BSE Investments stacks 5.88% stake in Open Network for Digital Commerce (ONDC)

25 Mar 2022 , 02:26 PM

In its press release today, BSE Limited informed that its wholly-owned subsidiary, BSE Investments Limited, has acquired a 5.88% stake in Open Network for Digital Commerce (ONDC).

BSE has always been a leader in implementing the best and leading-edge technologies, practices, and processes to ensure the safety and integrity of markets. In line with the trends in the international convergence of digital e-commerce, the ONDC opportunity will transform the way digital e-commerce is aligned with the Government’s vision of ‘Atmanirbhar India’.

ONDC is seeking to promote building digital infrastructure through scaling and innovative Open-Source APIs and Open Protocols. The company is contemplating a public design where buyers and sellers are mutually discoverable for e-commerce transactions and a decentralized model that backs and promotes open collaboration and interoperability.

“We are delighted to be associated with ONDC, as this is a tremendous opportunity to participate in this National initiative for digital transformation and financial inclusion,” commented Shri Ashishkumar Chauhan, MD & CEO, BSE.

BSE Ltd is currently trading at Rs886 down by Rs46.55 or 4.99% from its previous closing of Rs932.55 on the BSE. It has touched day’s high and low of Rs940 and Rs883 respectively.