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HDFC Bank, Kotak Mahindra Bank, and Axis Bank have each bought 7.84 percent of ONDC, an open public digital infrastructure framework. The ONDC was founded in India on December 30, 2021, to construct and strengthen the country's digital infrastructure. Both products and services are offered in India's digital commerce landscape. Each of the three banks has contributed Rs 10 crore in the venture. According to a regulatory filing on Wednesday, HDFC Bank now owns 7.84 percent of ONDC's equity share capital after allotting 10 lakh equity shares for Rs 10 crore. "Kotak Mahindra Bank has subscribed to 10,00,000 equity shares of Open Network for Digital Commerce (ONDC) for Rs 10 crore, corresponding to an equity stake of 7.84 percent in ONDC as of March 22," according to another filing.

According to a separate filing by Axis Bank, ONDC allotted 10,00,000 equity shares having a face value of Rs 100 apiece for a consideration of Rs 10 crore on March 22. Following the allocation, the bank now owns 7.84 percent of ONDC.

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