Kotak Bank, Axis Bank acquire stake in ONDC: Axis Bank, in a separate notice, said that ONDC has allotted 10 lakh equity shares of face value of Rs 100 to Axis Bank on March 22. After this allocation, the bank’s stake in ONDC has gone up to 7.84 per cent.
Kotak Bank, Axis Bank acquire stake in ONDC: Kotak Mahindra Bank and Axis Bank have acquired 7.84-7.84 percent stake in Open Network for Digital Commerce (ONDC). Both the banks have invested Rs 10 crore each in this unit.
Kotak Mahindra Bank said in the information sent to the stock exchanges that “the bank has acquired 10,00,000 equity shares of ONDC. This has increased its stake in ONDC to 7.84 per cent as on March 22, 2022.
stock market information
Axis Bank said in a separate communication that ONDC has allotted 10 lakh equity shares of face value of Rs 100 to Axis Bank on March 22. After this allocation, the bank’s stake in ONDC has gone up to 7.84 per cent.
It is noteworthy that ONDC was formed in India on 30 December 2021. The company creates an open public digital infrastructure to drive the growth and transformation of the Indian digital commerce ecosystem for both goods and services.
