India: With effect from today, Prashanthi Balamandira Trust (PBT), a Charitable Trust and Organisation in consultative status with the Economic and Social Council (ECOSOC) since June 2023, has been officially registered on the National Stock Exchange’s Social Stock Exchange as a Social Entity – Not for Profit Organisation. The Trust is a unit of Sri Madhusudan Sai Global Humanitarian Mission and is spearheaded by Sadguru Sri Madhusudan Sai, a social and spiritual leader who leading a unique global mission of providing free nutrition, education, and healthcare across 32 countries.
This unique platform provides new avenues for social enterprises to finance social initiatives, provide them visibility and bring in increased transparency in fund mobilisation and utilisation by social enterprises. The target segment of the social enterprise consists of underserved or less privileged population segments or regions recording lower performance in the development priorities of Central or State governments and therefore PBT ticked every criterion put forth by NSE. This move of going public will help the Trust gain the necessary aid from like-minded individuals, corporates, HNIs, and philanthropists.
Over the past decade, the Trust has transformed thousands of lives through free schools, a free 360-bedded multi-speciality hospital, which also functions as a teaching hospital for a completely free-of-cost medical college and numerous other social outreach programs.
Madhusudan Sai said, “We are delighted to join the Social Stock Exchange, a progressive platform that recognises the crucial role of voluntary organisations in nation-building. This step will further bolster stakeholders’ trust in our capability to drive large-scale sustainable change.” The SSE listing perfectly aligns with the Trust’s goals of accountability, good governance, and the expansion of its philanthropic work. Regulated by SEBI and facilitated by the NSE, SSE empowers non-profits and social enterprises to raise capital while encouraging transparency and public disclosure. The Prashanthi Balamandira Trust looks forward to leveraging this opportunity to further its mission.
