NSDL acquires a 5.6% stake in ONDC

The National Securities Depository Limited (NSDL) is India's first and one of the world's top Central Securities Depositories.

National Securities Depository Limited (NSDL), India’s premier depository, has purchased a 5.6% stake in Open Network for Digital Commerce (ONDC), equating to 10,00,000 equity shares of Rs. 100 apiece.

Under the private placement option, NSDL invested Rs.10 crore in ONDC.

NSDL boasts a market share of more than 89% in custody value, i.e. 4 trillion US dollars. Depository Participants from 58000 service centres service NSDL demat account holders.

NSDL investors may be found in 99.2% of Indian pincodes and in 189 countries.

ONDC is a Commerce Ministry initiative to build an open public digital infrastructure.

Experts believe ONDC is well-positioned to achieve what NSDL has done in the securities market: reach out to the common man at the grassroot level via technology.

“This strategic partnership will help to develop the digital ecosystem and bring digital e-commerce to the people of India.”

Ms. Padmaja Chunduru, NSDL’s MD and CEO

“We are glad to have NSDL as a stakeholder, which would be of strategic benefit considering their experience in reach and technology, “, who was part of the core NSDL Depository team in the initial days.

commented Mr.T Koshy, MD & CEO, ONDC

About NSDL:

The National Securities Depository Limited (NSDL) is India’s first and one of the world’s top Central Securities Depositories.

It has played a critical role in revolutionising the Indian securities market by promoting the dematerialization and transfer of securities.

The market share of NSDL in the value of demat assets is more than 89%.

NSDL demat account holders are present in more than 99% of pin codes in the country and 189 countries across the globe, reflecting the broad reach of NSDL.

This article was shared with Prittle Prattle News as a Press Release.
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