NSDL Hyderabad: India’s leading Depository National Securities Depository Limited (NSDL) on Wednesday announced it has acquired 5.6 per cent stake in Open Network for Digital Commerce (ONDC) – 10 lakh equity shares of Rs 100 each.
NSDL invested an amount of Rs.10 Crore in ONDC under the private placement route, NSDL said in a release.
NSDL commands more than 89 per cent of the market share in terms of custody value -- 4 Trillion US $.
NSDL demat account holders are serviced through the Depository Participants from 58000 service centres.
NSDL’s investors are present in 99.2 percent of pin codes in India and spread across 189 countries.
ONDC is an initiative of the Commerce Ministry to create an open public digital infrastructure.
Experts believe, ONDC is primed to do what NSDL has demonstrated in the securities market, reach out to the common man at the grassroot level through technology.
“This strategic deal will further strengthen the digital ecosystem to take the digital e-commerce to the people of India”, said Ms.Padmaja Chunduru, Managing Director and CEO, NSDL.
“We are glad to have NSDL as a stakeholder which would be of strategic benefit considering their experience in reach and technology“ said Mr.T Koshy, MD and CEO, ONDC, who was part of the core NSDL Depository team in the initial days.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
