NERL
NeRL is a WDRA-registered commodity repository operating India's national electronic platform for creation, transfer, pledge, and e-Auction of Negotiable Warehouse Receipts (eNWRs), serving farmers, warehouses, banks, and commodity exchanges across all 36 Indian states and union territories.
- Company typePrivate
- Founded2017
- HeadquartersMumbai, India
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What NERL does
National E-Repository Limited (NeRL) is a national-level market infrastructure institution incorporated in February 2017 in Mumbai, India, and a subsidiary of NCDEX (National Commodity & Derivatives Exchange Limited). NeRL operates the only commodity repository in India registered with the Warehousing Development and Regulatory Authority (WDRA), providing a web-based electronic platform for creation, transfer, pledge, and e-Auction of electronic Negotiable Warehouse Receipts (eNWRs). The company is promoted by NCDEX, NABARD, State Bank of India, and ICICI Bank, and serves four core user groups: farmers and Farmer Producer Organizations (depositors), Warehouse Service Providers (issuers), Banks and NBFCs (pledgees for collateral financing), and commodity exchanges including NCDEX and NMCE (settlement counterparties). Operations now span all 36 states and union territories of India.
NeRL's core product is the E-Repository Platform, a 24x7 web-based system deployed on AWS cloud infrastructure (EC2, S3, RDS, Lambda, VPC) with disaster recovery on Oracle Cloud, managed via Infrastructure as Code (Terraform/CloudFormation). The platform is complemented by COMTRACKNXT, a warehouse management and commodity tracking system, and the Warehouse Space Reservation (WSR) System for online capacity booking. Proprietary features include eNWR splitting, transfer, and pledge workflows designed to eliminate the risks of physical receipts — loss, mutilation, forgery, bad deliveries, and double financing — under the legal framework of the Warehousing (Development and Regulation) Act 2007. The platform integrates with eNAM (Electronic National Agriculture Market), NCDEX, and NMCE for settlement and trading workflows.
NeRL generates revenue through transaction-based fees across eNWR creation, transfer, pledge, withdrawal, e-Auction, and warehouse space reservation, plus account opening and annual maintenance charges (waived for farmers and FPOs). Distribution is operated through a network of over 70 Repository Participants (banks, NBFCs, SEBI-registered intermediaries, warehousemen) that act as agents for account maintenance and onboarding, supplemented by regional managers positioned across nine regional offices covering all major Indian states. By February 2025, the platform had facilitated over ₹10,000 Crore in cumulative pledge finance against eNWRs, indicating significant ecosystem traction despite a small employee base of 11-50.
NERL firmographics
Firmographics- Name
- NERL
- Legal name
- National E-Repository Limited
- Website
- https://nerlindia.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- NeRL is a WDRA-registered commodity repository operating India's national electronic platform for creation, transfer, pledge, and e-Auction of Negotiable Warehouse Receipts (eNWRs), serving farmers, warehouses, banks, and commodity exchanges across all 36 Indian states and union territories.
- Ownership category
- akta.pro rank
NERL industry classification
Industry- Product category
- Commodity Repository / Electronic Warehouse Receipt Platform
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Farm Product Warehousing and Storage (493130)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Services-Computer Processing & Data Preparation (7374)
- akta.pro primary industry
- Supply Chain & Inventory/Warehouse Receipt Tokenization (FSADAEAH)
- akta.pro secondary industry
- ACH Operator & Clearinghouse Services (FSAMAGAA)
Keywords
Where NERL is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices9 records
Markets served
NERL business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Repository Charges - Emerging Market: Charges for account maintenance, eNWR generation, and transaction processing for depositors in the emerging market segment. Fee structure varies for farmers and FPOs with waivers available.
- Repository Charges - NCDEX Market: Transaction and service charges for NCDEX market participants using the repository platform for settlement and delivery.
- Account Opening and Maintenance Charges: Fees for opening and maintaining repository accounts. Farmers and FPOs receive waivers for these charges.
- Booking and Transaction Charges: Charges for warehouse space reservation system usage and various transaction types including pledge, withdrawal, and conversion.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Annual | Farmer & FPO Account |
| Transaction based/ take rate | Pay-as-you-go | NCDEX Market Participants |
| Transaction based/ take rate | Pay-as-you-go | Repository Participants |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
NERL product offering
Product offeringCore offering
NeRL operates a web-based electronic repository platform for the creation, transfer, pledge, and e-Auction of electronic Negotiable Warehouse Receipts (eNWRs) and non-negotiable warehouse receipts in the Indian agricultural commodities market. The platform enables depositors (farmers, traders, processors) to obtain electronic receipts from WDRA-registered warehouses, which can be split, transferred, pledged with banks for financing, or auctioned. Complementary systems include COMTRACKNXT for warehouse management and the Warehouse Space Reservation (WSR) System for pre-booking storage capacity.
Product overview
NeRL operates as a unified digital commodity repository platform with interconnected modules. The core E-Repository Platform serves as the central hub for electronic warehouse receipts, working in conjunction with COMTRACKNXT for warehouse-level operations and the Warehouse Space Reservation (WSR) System for pre-deposit capacity booking. Electronic Negotiable Warehouse Receipts (eNWR) are the primary financial instrument issued through the platform, which can be pledged for financing, transferred for ownership changes, or auctioned. The Pledge Financing Platform enables banks and financial institutions to extend credit against eNWR collateral. Repository Participants act as intermediaries providing account maintenance and KYC services throughout the ecosystem.
Differentiator
Problem solved
Functional benefit
Products and services
- E-Repository Platform Web-based online platform for creation, transfer, pledge, and e-Auction of electronic Negotiable Warehouse Receipts (eNWR) and non-negotiable warehouse receipts. Enables centralized record-keeping of warehouse receipts and is available 24x7. Used by depositors, banks, warehouse service providers, and commodity exchanges.
- COMTRACKNXT Warehouse management and tracking system for Warehousemen to manage electronic and physical warehouse receipts, conduct quality assessments, and handle commodity tracking operations. Used by WDRA-registered warehouses.
- Warehouse Space Reservation (WSR) System Online platform for pre-booking warehouse storage space before physical commodity deposit. Enables participants to reserve warehouse capacity and manage booking quantities. Used by depositors, warehouse service providers, and commodity exchange participants.
- Electronic Negotiable Warehouse Receipt (eNWR) Digital warehouse receipt issued by WDRA-registered warehouses representing stored commodities. Can be split, transferred, pledged for financing, and traded on commodity exchanges. Eliminates risks of physical receipts including loss, mutilation, and duplication. Issued to depositors storing commodities in registered warehouses.
- Pledge Financing Platform Facility enabling holders of eNWR to obtain loans from banks and financial institutions using stored commodities as collateral. Pledgee institutions mark pledges via the Repository platform with control on eNWR balances remaining with the borrower until loan repayment. Used by banks, NBFCs, regional rural banks, cooperative banks, and PACS for warehouse receipt financing.
- Repository Participant Services Agent services for account maintenance, depositor identification, KYC verification, and facilitation of eWR issuance, modification, transfer, pledge, and e-auction transactions. Used by banks, NBFCs, SEBI-registered intermediaries, and warehousemen acting as authorized channel partners.
- e-Auction Services Electronic auction functionality for eNWR holders to auction commodities stored in WDRA-registered warehouses, enabling transparent price discovery and efficient commodity trading. Used by eNWR holders, traders, and processors.
Quantifiable outcome
- ₹10,000+ Crore in pledge finance facilitated against eNWRs
- +2 more outcomes
Companies that use NERL
Customer profileNamed customers12 records
Segments6 records
Ideal customer profiles5 records
NERL technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature4 records
NERL partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered strategic, major, core and minor.
- The Infravision FoundationstrategicNeRL partnered with The Infravision Foundation to host a roundtable on warehousing infrastructure, uniting key influencers and decision makers in the agri-warehousing industry.
- Punjab National BankmajorMoU signed between WDRA and PNB to facilitate finance against eNWRs. This partnership enables PNB customers to access pledge financing through the NERL platform.
- OraclecoreNERL deployed disaster recovery on Oracle Cloud infrastructure, achieving 30% cost reduction. Oracle provides cloud infrastructure services supporting NERL's 24x7 platform operations.
- eNAM (Electronic National Agriculture Market)majorIntegration between NERL and eNAM platform enables trading of electronic warehousing receipts, connecting warehouse receipts with agricultural market infrastructure.
- NMCE (National Multi Commodity Exchange)majorNMCE successfully transitioned to NeRL Repository eNWR System for delivery-based settlement. This integration enabled commodity exchange settlement using electronic warehouse receipts.
- NCDEX (for FPO Awareness)minorNeRL collaborated with NCDEX on FPO awareness programs to introduce Farmer Producer Organizations to NeRL and the concept of eNWR.
- WDRA (Warehousing Development and Regulatory Authority)coreWDRA granted NERL certificate of registration for providing electronic repository platform. WDRA is the regulatory authority overseeing the warehouse receipt ecosystem and NERL operates under its aegis.
Scale indicators6 records
Recent moves8 records
Expansion highlights6 records
NERL competitors and assessment
Company assessmentEmerging players
- Arya.ag: Indian agri-fintech platform offering warehousing, financing, and marketplace services for agricultural commodities. Comparable as an emerging digital infrastructure player in agricultural commodity financing and warehouse receipt management.
- SLCM (Sohan Lal Commodity Management): Indian agri-logistics and warehousing company offering scientific storage and collateral management services. Comparable in providing warehouse receipt infrastructure that enables commodity financing in India.
- StarAgri Warehousing and Collateral Management: Indian agri-warehousing company providing collateral management, scientific storage, and pledge financing services. Comparable in providing warehouse receipt-based financing infrastructure for agricultural commodities in India.
- NBHC (National Bulk Handling Corporation): Indian collateral management and commodity warehousing company providing integrated post-harvest credit and storage services. Comparable in providing warehouse receipt-based collateral management for Indian agricultural financing.
Broad incumbents
- CME Group: Global derivatives marketplace operator providing commodity exchange, clearing, and market infrastructure services. Comparable as a large-scale commodity market infrastructure with analogous clearinghouse and registry functions.
- NCDEX (National Commodity & Derivatives Exchange): Parent company of NERL and India's largest agri commodity derivatives exchange. Comparable as regulated market infrastructure connecting commodity producers, traders, and financiers, with overlapping institutional promoters and shared ecosystem participants.
- Intercontinental Exchange (ICE): Global operator of regulated exchanges, clearing houses, and listings for commodities and financial markets. Comparable as a large-scale global commodity market infrastructure with registry, clearing, and settlement capabilities.
- MCX (Multi Commodity Exchange of India): India's largest multi commodity derivatives exchange. Comparable as a regulated commodity market infrastructure with overlapping institutional ecosystem participants and warehouse receipt-based settlement mechanisms.
Others
- NSDL (National Securities Depository Limited): India's largest securities depository operating centralized record-keeping and settlement infrastructure analogous to NERL's eNWR repository model. Comparable as a regulated digital registry infrastructure institution enabling collateral and transfer workflows.
Direct peers
- Electronic National Agriculture Market (eNAM): Government of India's pan-India electronic trading portal for agricultural commodities, directly integrated with NERL for trading of electronic warehousing receipts. Closest functional peer in digital agri-commodity infrastructure.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
NERL social profiles
Digital presenceNERL financial estimates
Financial estimateRevenue estimate
Valuation estimate
NERL leadership team
Management profileNumber of profiles
Profiles5 records
NERL funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NERL M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NERL
What does NERL do?
NeRL operates a web-based electronic repository platform for the creation, transfer, pledge, and e-Auction of electronic Negotiable Warehouse Receipts (eNWRs) and non-negotiable warehouse receipts in the Indian agricultural commodities market. The platform enables depositors (farmers, traders, processors) to obtain electronic receipts from WDRA-registered warehouses, which can be split, transferred, pledged with banks for financing, or auctioned. Complementary systems include COMTRACKNXT for warehouse management and the Warehouse Space Reservation (WSR) System for pre-booking storage capacity.
Is NERL a public or private company?
NERL is a private company. It is classified as corporate owned and is currently operating.
When was NERL founded?
NERL was founded in 2017. It employs 11 to 50 people.
Where is NERL based?
NERL is headquartered in Mumbai, India, in the Asia region.
How does NERL make money?
Four revenue lines are on record. Repository Charges - Emerging Market is the primary driver. The others are repository Charges - NCDEX Market, account Opening and Maintenance Charges and booking and Transaction Charges.
Who are NERL's main competitors?
Emerging players on record are Arya.ag, SLCM (Sohan Lal Commodity Management), StarAgri Warehousing and Collateral Management and NBHC (National Bulk Handling Corporation). Broad incumbents are CME Group, NCDEX (National Commodity & Derivatives Exchange), Intercontinental Exchange (ICE) and MCX (Multi Commodity Exchange of India). NSDL (National Securities Depository Limited) is listed as an others. Electronic National Agriculture Market (eNAM) is listed as a direct peer.
Does NERL have an API?
No public API is recorded for NERL.
What industry is NERL in?
NERL's product category is Commodity Repository / Electronic Warehouse Receipt Platform. Its primary akta.pro industry code is FSADAEAH, Supply Chain & Inventory/Warehouse Receipt Tokenization, with a secondary code of FSAMAGAA, ACH Operator & Clearinghouse Services. Its NAICS code is 522320 and its SIC code is 6200.