ICICI Bank
ICICI Bank on Tuesday said that it will invest Rs 10 crore to buy 10 lakh equity shares in Open Network for Digital Commerce (ONDC). After the acquisition of shares, the bank will hold a 5.97 percent share in ONDC.
The private lender has accepted the offer to buy 10 lakh equity shares of ONDC on March 28, 2022, in a regulatory filing. ONDC is involved in creating an open public digital infrastructure to develop and transform the Indian digital commerce ecosystem for goods and services.
The bank said, “Post allotment, ICICI Bank will hold a 5.97 percent stake in ONDC through the acquisition of 10,00,000 equity shares of the face value of Rs 100 each. The shareholding is subject to change and is dependent on the closure of transaction by participating investors.”
