Sodhani Academy of Fintech Enablers Ltd (SAFE) is a financial-literacy school that runs on government partnerships - it designs courses, trains teachers and students, and gets paid through public-sector contracts, CSR funds, and institutional fees. The company began as a financial consultancy and transformed into a hybrid education firm, listing on the BSE SME platform in September 2024 after an IPO that was subscribed more than 438 times. Its recurring approach is to secure exclusive tie-ups with government bodies, universities, and sector-skill councils, then deliver training through a mix of physical centres, a digital learning platform, and a network of local partners - always in the local language and always tied to a certification that someone else recognises. # Business segments A single engine - financial-literacy training and certification - delivered to three distinct customer types: school systems and government bodies, college students and universities, and corporate institutions. ## 1. Government and school-system training: the anchor contract that opens every door **A three-year mandate from the Rajasthan government to teach financial literacy in every school from class 6 to 12 is the company's flagship - it brings both reach and the right to receive CSR funds from any company wanting to meet its obligations through a state-authorised channel.** - **Paid by CSR, not school fees** - the Rajasthan Council of School Education authorised SAFE to receive corporate social-responsibility contributions through government-supported channels, with the project value ranging from nil to ₹65 crore depending on the CSR funds raised. - **Curriculum covers scams, not just savings** - the school programme teaches financial literacy, prevention of financial cybercrimes and frauds, and the application of artificial intelligence, targeting both students and teachers across Rajasthan. - **A replicable model for other states** - the company treats the Rajasthan government partnership as a template it can take to other state governments, which is how it plans to scale beyond its home state. - **Public-sector integration is the moat** - SAFE's differentiation rests on vernacular content, localised delivery, and exclusive partnerships with entities like the BFSI Sector Skill Council and BSE Institute, making it hard for a generic ed-tech firm to displace. ## 2. College and university programmes: certification attached to a degree **SAFE partners with universities and colleges to embed its financial certifications into their BBA, BCA and other degree programmes - the student earns a university degree and a SAFE certificate in the same course.** - **Degree-plus-certification model** - under a five-year agreement with Saint Soldier PG College for Girls, SAFE runs normal BBA and BCA programmes with its own certification, a specialised BBA with BFSI or BSE Academy certification, and a specialised BCA with IIT Bombay certification. - **University tie-ups bring batches, not individuals** - academic affiliations with Vishvakarma Skill University, Jaipur, and an MoU with Parul University, Vadodara, for promoting and facilitating admissions to its programmes, give SAFE access to students enrolled with the Company for its skill-based programmes without any equity or capital commitment. - **Train-the-trainer through sector councils** - as an associate training institute of the BFSI Sector Skill Council, SAFE conducts SEBI Investor Certificate and NISM Mutual Fund Distributor certification exams across all districts of Rajasthan, targeting 5,000 candidates at Level 1 and 300 at Level 2. - **Local-language stock-market basics** - through Rajasthan Knowledge Corporation Limited, a state-government-promoted entity, SAFE delivers a course called 'share market mein pehla kadam' (first step in the share market) via the RKCL network and its online portal, reaching aspirant students and the general public. ## 3. Corporate and institutional training: paid by the employer, not the learner **SAFE designs and delivers certification programmes for broking firms, NBFCs, and other financial institutions - the company that employs the trainees pays for the sessions.** - **"Zero to Hero" for a broking firm's staff** - a specialised training and certification programme created for Bonanza Portfolio Ltd, where SAFE awards certificates to professionals who complete the course. - **Hybrid training, consulting and recruitment bundled together** - a training agreement with Value Innovation Private Limited covers hybrid training services, consulting services and recruitment services for the client's employees and deployed resources, with fees contingent on the number of sessions conducted. - **A dedicated centre for agent training** - SAFE runs a physical training centre in Jaipur that prepares NBFC employees, mutual fund agents and LIC agents for the financial market, with sessions on market trends, financial instruments and regulatory updates. - **Placement support closes the loop** - under the BFSI Sector Skill Council agreement, SAFE assists colleges and students in securing placement opportunities and mobilises student batches for short-term programmes like the Certificate in Equity Trading and Investment, with revenue-sharing arrangements on the Apprenticeship Embedded Degree Programme. # Technology platform and physical reach **A hybrid delivery engine - AI-based learning management system on one side, live trading studios and training centres on the other - that lets SAFE serve both remote learners and hands-on classroom cohorts.** - **Digital backbone built with IPO funds** - the company allocated IPO proceeds to an AI-based Learning Management System with a mobile app and website for live classes, recorded sessions and self-paced modules, plus a content studio for high-quality video production. - **Live trading studio with dedicated terminals** - the Skill Development Centre in Jaipur seats 35 participants, each with a dedicated computer for hands-on market trading during market hours; after hours the same studio is used for digital marketing, tally and excel training. - **Franchise model replaces owned branches** - after opening and subsequently closing branch offices in Bengaluru and Guwahati (which together contributed less than 1% of turnover), SAFE shifted those locations to a franchise-based model and opened a new owned branch in Mumbai for office and commercial purposes. - **Academic partner for tech content** - an association with Spoken Tutorial, IIT Bombay, gives SAFE access to audio-video teaching tools for free and open-source software, which it uses to train students in basic computer, software and IT skills. # Group structure and partners **SAFE has no subsidiaries, joint ventures or associates - it operates through a web of exclusive partnerships with government bodies, universities, sector-skill councils and a strategic ed-tech investment.** - **BSE Institute Limited** - jointly creates and develops courses for schools, colleges and corporates, with faculty from both organisations delivering the training at agreed rates. - **BFSI Sector Skill Council of India** - associate training institute status under a one-year agreement with quarterly performance reviews, covering certification exams, webinars, workshops and placement support. - **Rajasthan Council of School Education** - the three-year government mandate for financial literacy in schools, with CSR-funding authorisation. - **Rajasthan Knowledge Corporation Limited (RKCL)** - a state-government-promoted public limited company that distributes SAFE's capital-market course through its ITGK network and MyRKCL portal. - **RVKP Services LLP** - a network of over 700 centres across Rajasthan with more than 16 years of experience, engaged to promote SAFE's fintech-oriented academic courses. - **Smart School Education Private Limited** - a strategic investment of ₹1 crore in compulsorily convertible preference shares, giving SAFE a stake in an ed-tech firm with over 50,000 animated modules, 10,000 interactive games and 2 million learning resources for K-12 phygital learning. - **University and college partners** - Vishvakarma Skill University (Jaipur), Parul University (Vadodara), Saint Soldier PG College for Girls, and Spoken Tutorial IIT Bombay, each providing student cohorts or content for SAFE's certification programmes. - **Corporate training clients** - Bonanza Portfolio Ltd (Zero to Hero programme), Value Innovation Private Limited (hybrid training, consulting and recruitment), and GFO Global (marketing and promotional activities).