Trilegal Advised Unnati On Public Issuance Of ZCZP Instruments

Trilegal Advised Unnati On Public Issuance Of ZCZP Instruments

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.