Since exiting Flipkart last year, he has invested in start-ups, including Ola, Ather, Vogo, privately and through his investment vehicle BAC Acquisitions
Billionaire entrepreneur Sachin Bansal has infused more money into his investment vehicle BAC Acquisitions and renamed it Navi Technologies, company filings reveal.
The Flipkart co-founder has invested Rs 888.50 crore, approximately $123 million, in Navi Technologies, which was set up as BAC Acquisitions in December 2018. Documents from the Registrar of Companies sourced through Tofler show Sachin Bansal bought 68.3 million shares at Rs 130 apiece over two tranches in October. Of these, 11.5 million shares were bought with cash (approximately Rs 150 crore), which comes as fresh infusion in the company. The rest were issued against financial securities, according to the documents.
“The funds have been infused in Navi Technologies to enable the company to scout for growth opportunities, organic and inorganic, in the broad financial sector space. With funds in the balance sheet, Navi Technologies will be able to move quickly to capture opportunities as they arise,” said a spokesperson of Sachin Bansal, in an emailed response.
The development comes close on the heels of Bansal buying a microfinance, which he now leads. In September, he announced his second innings as an entrepreneur by buying majority shares in Chaitanya Rural Intermediation Development Services, which runs the microfinance institution, Chaitanya India Fin Credit. The company is 10 years old and headquartered in Bengaluru.
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