HDFC Bank, Kotak Mahindra and Axis Bank acquire 8% each in ONDC

Private sector lenders HDFC Bank, Kotak Mahindra Bank and Axis Bank have acquired 7.84 per cent stake each in the open public digital infrastructure framework entity ONDC.

All the three banks have invested Rs 10 crore each.

Post investment, HDFC Bank holds 7.84 per cent of the equity share capital of ONDC by way of allotment of 10 lakh equity shares for Rs 10 crore, it said in a regulatory filing on Wednesday.

“Kotak Mahindra Bank has subscribed to 10,00,000 equity shares of Open Network for Digital Commerce (ONDC) for a consideration of Rs 10 crore, translating into an equity shareholding of 7.84