18 Mar 2025


Trilegal advised on the public issuance of zero-coupon-zero-principal instruments (ZCZPs) which were listed on the social stock exchange segment of the National Stock Exchange of India Limited by SGBS Unnati Foundation (Unnati).
This was the first-ever ZCZP issuance after the introduction of UPI as a bidding mechanism for ZCZPs and saw substantial retail participation, which is a significant milestone for SSE. This also follows the previous public issue of ZCZPs by Unnati, which was the first-ever social stock exchange fund raise undertaken in India, on which Trilegal advised.
Unnati is a Bangalore-based not-for-profit organisation focused on training underprivileged youth and helping them seek gainful employment. The proceeds from the ZCZP issuance are proposed to be deployed towards Unnati’s learning and empowerment program, with the potential to positively impact the lives of approximately 3,000 young individuals.
The Trilegal team advising on the matter was led by our Capital Markets Partner, Richa Choudhary, and comprised lawyers Maitreya Rajurkar, Ayush Khandelwal, and Anay Jain. Partner from Technology, Media and Telecom practice, Rahul Matthan, provided strategic input on the transaction.
Trilegal was the sole counsel on the transaction, and Unitus Capital Private Ltd was an advisor.
About Trilegal
Trilegal is one of India’s leading law firms, with expertise across the full spectrum of corporate legal services. Trilegal has offices in four key cities of India.
Trilegal has been recognised as M&A Firm of the Year by IFLR Asia-Pacific 2024; Best Overall Law Firms by India Business Law Journal (IBLJ) 2024; Innovative Lawyers Asia-Pacific by Financial Times (FT) 2024; Law Firm of the Year by Deal Volume by VCCircle Awards 2024; India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; Best Law Firms to Work by Vahura 2022; Firm of the year for Client Service Excellence by Asia Law Awards 2021.
For more information, please get in touch with Prakruti Jani | Mob: +91-9867868976 | BD@trilegal.com

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