NGO Prashanthi Balamandira launches public issue to raise Rs 18 crore for hospital

Karnataka-based public charitable non-profit organisation, Prashanthi Balamandira Trust (PBT), launched its public issue on the Social Stock Exchange (SSE) on Wednesday to raise Rs 18 crore. The minimum subscription amount for this issue is Rs 10,000.

The organisation will use the funds raised through the issue of Zero Coupon Zero Principal Bonds (ZCZP) to establish an Emergency and Trauma Care Wing in the upcoming 600-bed free-of-charge hospital at Sathya Sai Grama, Muddenahalli, near Bengaluru, a statement said.

Trustee of the organisation, RK Subramanya, said, “Emergency care saves lives. Yet in resource-limited settings, care is often compromised due to a lack of funds. Our mission is to provide access to high-quality medical care, free of charge, to all those in need.”


The nonprofit said the SSE issue is an attempt to widen the ambit of PBT’s undeterred goal of uplifting human lives by facilitating education and healthcare. "We encourage all stakeholders to come forward and back the noble cause," it said.