Axis Bank has invested Rs 10 crore in Open Network for Digital Commerce (ONDC). ONDC has allotted Axis Bank 10,00,000 equity shares of face value of Rs 100 each for a consideration of Rs 10 crore on March 22, 2022. Post allotment, the shareholding of the Bank in ONDC is 7.84%. The Bank wishes to participate in the creation of infrastructure to develop and transform the Indian digital commerce ecosystem and has therefore made the investment in ONDC.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
