SIDBI buys 7.84% stake in ONDC for Rs 10 crore

Small Industries Development Bank of India (SIDBI) has acquired 7.84 per cent stake in public sector digital infrastructure platform ONDC for Rs 10 crore. “We have acquired 7.84 per cent stake in Open Network for Digital Commerce (ONDC) with an investment of Rs 10 crore,” SIDBI said on Friday.

S Raman, Chairman and Managing Director, SIDBI said, “This investment in ONDC will help us develop digital infrastructure with easy access to a digital platform. He said that this digital platform will be helpful in increasing market access especially for Micro, Small and Medium Enterprises (MSMEs).

Significantly, ONDC was formed in December 2021. Its objective was to create an Indian digital commerce environment and create a first of its kind open public digital infrastructure.