NSDL buys 5.6% stake in ONDC for Rs 10 crore
Summary
NSDL has pumped in Rs 10 crore in ONDC under the private placement route.Commenting on the deal, NDSL MD and CEO Padmaja Chunduru said, This strategic deal will further strengthen the digital ecosystem to take digital e-commerce to the people of India. ONDC MD and CEO T Koshy noted, We are glad to have NSDL as a stakeholder which would be of strategic benefit considering their experience in reach and technology.NSDL has a market share of 89 per cent in terms of custody value viz. $4 trillion and its investors are present in 99.2 per cent of pincodes in India.The Commerce Ministry rolled out ONDC to give greater thrust to retail e-commerce penetration in India. Consumers can place orders in groceries and restaurants through buyer apps in the ONDC network. Apps like Shiprocket, Dunzo and Loadshare will provide logistical support whereas Protean eGov Technologies will provide gateway services.Also read: Hows ONDC solving small sellers discoverability and commission concerns on e-commerce