NSDC Debuts on NSE Social Stock Exchange with INR 4 Cr Issue

The National Skill Development Corporation (NSDC) has made its debut on the Social Stock Exchange (SSE) of the National Stock Exchange (NSE), with Union Minister Jayant Chaudhary. It is NSDC’s first issuance of Zero Coupon Zero Principal (ZCZP) instruments, with NABARD subscribing INR 4 crore.

The funds will support 600 young people from economically weaker Other Backward Classes (OBC) households in Madhya Pradesh. Of these, 300 will be prepared for employment in Japan and 300 in Germany through residential foreign-language and employability training, delivered by NSDC International Limited, a wholly owned NSDC subsidiary.

The focus sectors are caregiving, hospitality, construction and manufacturing. Indicative monthly earnings for placed candidates are about INR 1-1.2 lakh in Japan and INR 1.1-3.2 lakh in Germany, depending on the role.

“Government can create the enabling framework, but financing development at scale requires public institutions, private funders and donors to work together. The Social Stock Exchange connects this collective commitment with credible projects, transparency and verifiable outcomes,” said Jayant Chaudhary, Minister of State (Independent Charge) for Skill Development and Entrepreneurship.

The programme has an estimated outlay of INR 11.25 crore under a blended-financing structure. Beneficiaries will contribute 15% of the cost, 35% will come from financing mobilised on the Social Stock Exchange, and the remaining 50% will be paid by the Government of Madhya Pradesh once candidates are placed overseas.

The outcome-linked component sits under a bilateral Social Impact Bond between NSDC and the state government, which will also support candidate mobilisation, residential training infrastructure and language laboratories. The ZCZP format lets eligible social-purpose organisations raise funds without interest or principal repayment, with emphasis on transparent deployment and reporting of social outcomes.

“Our focus will now be on effective implementation, verifiable outcomes and building a portfolio of initiatives that can attract greater participation in social financing,” said Arunkumar Pillai, CEO, NSDC.