Lucknow-based non-profit organisation Dignity Education Vision International (DEVI) Sansthan is set to raise up to ₹1.10 crore through a public issue of Zero Coupon Zero Principal (ZCZP) Instruments on the Social Stock Exchange (SSE) platform of BSE. The issue will open on July 13, 2026, and close on July 24, 2026. You can apply for it on You can apply for it on DEVI Sansthan’s issue page
The fundraising aims to support DEVI Sansthan's flagship ALfA (Accelerated Learning for All) programme, which focuses on improving Foundational Literacy and Numeracy (FLN) among children through evidence-based teaching methods.
The issue comprises up to 1.10 crore ZCZP instruments priced at ₹1 each, aggregating to ₹1.10 crore. The public issue will open on July 13, 2026, and close on July 29, 2026. Investors can participate with a minimum investment of ₹1,000, and the instruments will be listed on the BSE Social Stock Exchange (SSE).
The issue is open to retail, non-institutional, and institutional investors. However, investors should note that ZCZP instruments do not offer interest payments or repayment of principal and are not tradable in the secondary market. These instruments are designed for social impact investing, allowing investors to support DEVI Sansthan's education initiatives rather than earn financial returns.investors should note that ZCZP instruments do not offer interest payments or repayment of principal and are not tradable in the secondary market.
After issue-related expenses, DEVI Sansthan expects net proceeds of approximately ₹1.02 crore.
The funds will be allocated as follows:
| Category | Amount (₹) |
| Program Design, Training & Capacity Building | 10,14,000 |
| Learning Materials & Classroom Resources | 72,63,800 |
| Monitoring & Evaluation | 5,76,000 |
| Field Implementation & Local Support | 6,80,200 |
| Program Management & Administration | 4,76,700 |
| Contingency Funds | 1,90,800 |
| Total | 1,02,01,500 |
The issue requires a minimum subscription of 75%, equivalent to approximately ₹0.83 crore.
If subscriptions fall below this threshold, funds will be refunded to applicants. If the issue receives more applications than available instruments, allotment will be made on a pro-rata basis.
DEVI Sansthan has noted that lower fundraising could impact the scale of teacher training, classroom interventions, learning assessments, and educational resource distribution under the programme.
Founded in 1992 by former World Bank economist Dr. Sunita Gandhi, DEVI Sansthan has spent more than three decades working to improve access to quality education. The SSE issue provides impact-focused investors an opportunity to contribute directly to educational development initiatives.
While the ZCZP instruments do not offer financial returns, they allow investors to support measurable social outcomes through a regulated fundraising platform. The issue also highlights the growing role of India's Social Stock Exchange in channeling public capital toward social development projects.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Published on: Jul 13, 2026, 9:30 AM IST
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