The Bank of India has bought 1 million equity share of INR 100 each. The transactions is expected to be completed in the second quarter of fiscal year 2022 to 23.
Bank of India Project ONDC 2022
The State Bank of India, Kotak Mahindra Bank, Axis Bank, HDFC Bank, IDFC First Bank and ICICI Bank have also invested in the digital e-commerce company.
The state owned BOI has invested INR 10 Cr in the government-backed e-commerce company Open Network for Digital Commerce ONDC through the private placement route.
Once the deal is executed, the bank’s total stake in ONDC will be 5.56%. Pursuant to the provisions. we hereby inform you that on 09.27.2022, the Bank has invested as promoters shareholder of ONDC, an amounts of INR 10 Cr in ONDC under private placements route,