AXIS Bank invests in Open Network for Digital Commerce

Open Network for Digital Commerce ("ONDC") has on March 22, 2022 allotted Axis Bank Limited ("Bank") 10,00,000 equity shares of face value of Rs. 100 each for a consideration of Rs. 10,00,00,000. 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.

ONDC is engaged in creating an open public digital infrastructure to develop and transform the Indian digital commerce ecosystem for both goods and services and to expand alternatives for both buyers and sellers to engage in the Digital Commerce space.

Shares of Axis Bank Limited was last trading in BSE at Rs. 732.10 as compared to the previous close of Rs. 726.40. The total number of shares traded during the day was 396248 in over 13826 trades.

The stock hit an intraday high of Rs. 736.75 and intraday low of 706.20. The net turnover during the day was Rs. 285342521.00.

Source : Equity Bulls

Keywords

AxisBank INE238A01034 Investment OpenNetworkforDigitalCommerce ONDC