Sachin Bansal
CEO, Navi TechnologiesBirth DetailsAugust 5, 1981 | Chandigarh
NationalityIndian
LeagueEntrepreneur
EducationB Tech, Computer Science, IIT Delhi
Net Worth$1.2 billion (As of July 14, 2020)
Sachin Bansal's Assets:
Sachin Bansal's Journey so far...
Before you go...
- Navi Technologies
- Stake in U Gro Capital
- Stake in Chaitanya
- Stake in Piramal Enterprises
- Stake in Ather Energy
- Stake in Ola
Sachin Bansal's Journey so far...
- After finishing his schooling from Chandigarh, Sachin Bansal cracked the JEE and enrolled in IIT Delhi where he completed his B Tech in Computer Science in 2005
- Following his graduation, Bansal joined the Bangalore-based Techspan as an Associate where he worked for five months. He later joined Amazon as a Senior Software Engineer in January 2006
- It is in Amazon where he met his college batchmate Binny Bansal and the duo decided to set up an e-commerce platform after attempting to build an online shopping comparison engine. Sachin worked with the American e-commerce firm for a year and nine months
- With Rs 4 lakh and a small flat in southeast Bangalore, Sachin and Binny Bansal - who are not related to each other - set up Flipkart in 2007. The duo started off with selling books in Bangalore and its suburbs
- Sachin became the CEO and Binny COO of Flipkart. Initially the Bansals bet on word-of-mouth marketing among friends, peers, cousins, family members and some bit of social media
- In 2010, Flipkart surged ahead by diversifying into selling electronics, digital movies, music and games. What helped the startup leap ahead was the introduction of a cash-on-delivery model
- Under the leadership of Sachin Bansal, Flipkart attracted world-renowned venture capitalists like South Africa's Naspers, Accel Partners, investment firm Tiger Global, San Francisco-based multi-family office ICONIQ Capital and Japan's SoftBank
- Sachin quit as CEO of Flipkart in 2016 and became Executive Chairman. However, after 10 years with India's top startup and in an abrupt decision, he exited from Flipkart by selling his entire 5.5% stake to Walmart for an estimated $1 billion. Walmart bought a controlling stake in Flipkart for $16 billion
- Since his exit, Bansal started a new firm called Navi Technologies and has been pursuing opportunities in the BFSI space. He has also applied for a bank licence
- Bansal has been investing in Indian startups since 2014 in his personal capacity and after his exit from Flipkart, he has made a big investment in ride-hailing firm Ola. He has also invested in startups like Grey Orange, Inshorts, Unacademy and TeamIndus
- He is considered as the flagbearer of the startup ecosystem in India, which began to take shape with the success of Flipkart.
Before you go...
- Bansal loves gaming and he wanted to drop out of IIT to become a gamer. Thanks to this, he took an additional year to complete his degree
- The first product that Flipkart sold was a book titled, 'Leaving Microsoft to Change the World' by John Wood
- Bansal's parents wanted him to work with an MNC and braved fierce parental opposition to start up on his own
- The entrepreneur has admitted that he is very impulse-driven, emotional and intuitive
Last Updated: 12/02/2021
Sachin Bansal News
- Sachin Bansal’s Navi in talks to raise $250-300 million from Prosus, Accel USSachin Bansal's Navi Technologies is in talks to raise $250-300 million at a $1.8-2 billion valuation, potentially from Prosus and Accel Growth Fund. This funding aims to expand its lending business in Southeast Asia, following strong performance in India. The move comes after a period of regulatory scrutiny and a shift from IPO plans to private capital.
- Sachin Bansal’s Navi Finserv posts 14% rise in Q3 revenues, profits up 22% to Rs 76 croreThe Bengaluru-based firm posted a net profit of Rs 75.5 crore during the quarter, a 21.7% increase year-on-year (YoY), according to financial documents sourced from the Registrar of Companies (RoC).
- Navi plans to push ahead with credit on UPI: CEO Rajiv NareshNavi aims to leverage credit on UPI for growth in a saturated market. The company processes millions of UPI payments monthly. Navi wants to scale up its credit line on UPI, launched with Karnataka Bank. It also focuses on expanding its home loan business and direct-to-consumer insurance strategy. Navi plans to increase its assets under management through passive mutual funds.
- Sachin Bansal’s Navi Technologies raises Rs 170 crore via debt roundNavi Technologies, led by Flipkart cofounder Sachin Bansal, raised Rs 170 crore via debt funding, with PhillipCapital contributing Rs 120 crore. The fintech firm offers loans, insurance, and UPI services. Navi, once halted by RBI over lending practices, saw strong FY24 results and remains among India’s top UPI apps by volume.
- Was extremely unhappy after exiting Flipkart as it was unplanned: Sachin BansalIn 2018, Walmart acquired a majority stake in homegrown ecommerce company Flipkart. Bansal, along with his cofounder Binny Bansal, sold their stakes in Flipkart to the US retailer.
- Navi biggest beneficiary of NPCI, govt efforts to level UPI playing field: Sachin BansalBansal said the final story of UPI hasn't played out yet, and any such market with more potential will always have more space for new players, no matter how crowded.
- TCS under visa lens; Musk’s Grok 3 is hereTata Consultancy Services (TCS) is facing scrutiny over its alleged misuse of L-1A manager visas in the US. This and more in today’s ETtech Top 5.
- Navi Group sets the ball rolling for IPOIn an exclusive interview with ET, Bansal shared that Navi is actively engaging with bankers to determine the right timing for the IPO. While the exact dilution and valuation details have not been finalised, Bansal confirmed that the company is in a strong position and evaluating its options.
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- Sachin Bansal assumes chairman role at Navi, appoints new CEOsIn his new role, Bansal will focus on exploring growth opportunities for Navi, driving mergers and acquisitions, and enhancing the company’s compliance and risk management frameworks. "As the company grows, so do the demands from a compliance and regulatory perspective," Bansal explained.
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- Tumble Tuesday for Zomato, Swiggy shares; IT firms boost fresher hiring targetsZomato and Swiggy shares fell due to the former’s weak earnings and intensifying quick commerce competition. This and more in today’s ETtech Top 5.
- Sachin Bansal's Navi Technologies defrauded of Rs 14.26 crore by scammersNavi Technologies, cofounded by Flipkart's Sachin Bansal, was defrauded of Rs 14.26 crore. Scammers exploited a system bug, using a third-party payment gateway to manipulate payment amounts, marking transactions as successful for Rs 1 while the company was charged the full amount. A case has been filed in Bengaluru against the unidentified scammers.
- Startups & the new data law; Sachin Bansal’s Ola stakeHappy Tuesday! The draft Digital Personal Data Protection Act, 2023, has created new opportunities for startups in the tech sector. This and more in today’s ETtech Morning Dispatch.
- Sachin Bansal in talks to sell $100 million investment in Ola at a premiumSachin Bansal is negotiating with investors to sell his $100 million stake in Ola, valuing the company at around $4 billion. Bansal aims to liquidate his holdings in Ola to focus on his fintech venture, Navi. Navi has faced some regulatory hurdles while seeking external capital.
- View: Returnee entrepreneurs are reshaping India’s future, but barriers must be removed to reap rewardsBy failing to retain the best and brightest - especially from India - the US has triggered a reverse brain drain that is transforming India into a global innovation powerhouse, while eroding America's leadership in innovation and entrepreneurship. This transformation is exemplified by Indian entrepreneurs who returned from abroad to build billion-dollar companies. Sachin and Binny Bansal, former Amazon employees, co-founded Flipkart. Bhavish Aggarwal, after working at Microsoft, created Ola, which has since expanded into EVs, AI and RE.
- RBI lifts restrictions on Sachin Bansal's Navi FinservThe Reserve Bank of India lifted restrictions on Navi Finserv. This decision follows the company's rectification of deficiencies after several rounds of interaction with the RBI. Navi Finserv can now resume loan sanctioning and disbursement operations. Restrictions were initially imposed due to material supervisory concerns, including excessive loan pricing. Similar restrictions were placed on three other NBFCs.
- Sachin Bansal's Navi partners with Karnataka Bank to launch credit lines on UPIMangaluru-headquartered Karnataka Bank will offer credit lines to Navi’s users. This is currently available to a group of pre-qualified users but will be launched for more users based on customer feedback.
- Fintech startup Navi to unveil new products; tap UPI-based credit opportunitiesAccording to founder Sachin Bansal, credit on UPI can help banks offer their services to 30 crore Indian consumers and businesses. This could prove to be a “game-changer” for MSMEs, which contribute 30% to the GDP but often face a credit supply shortfall.
- Ratan Tata to make 450% profit from FirstCry IPO but loss for Sachin TendulkarBillionaire business tycoon Ratan Tata is all set to make multibagger returns of 448.9% or a handsome profit of Rs 2.96 crore in the initial public offering (IPO) of kidswear startup FirstCry.
- Ather Energy converts to public limited company on road to IPOAther's board greenlit the change at its annual general meeting (AGM) last week, and the EV scooter maker will change its name to Ather Energy Limited, from Ather Energy Private Limited earlier, sources told ET. Ather plans to raise $75-90 million (about Rs 750 crore) in primary funding from new and existing investors, ET had reported on April 23.
- Hero MotoCorp invests Rs 124 crore into Ather Energy, valuation up 20% at Rs 5,636 coreHero MotoCorp, which was already the largest shareholder in Ather Energy, now holds over 40% of the firm’s total shareholding. The investment comes just a week after the company raised Rs 286 crore ($34 million) from its founders and Stride Ventures in a mix of debt and equity funding.
- Sachin Bansal's Navi Finserv raises Rs 150 crore through NCDsThe finance committee of the board of directors of the company has approved the allotment of NCDs with a face value of Rs 1,00,000 each, totalling Rs 150 crore through private placement, the regulatory filing showed.
- KM Birla's daughter Ananya takes a break from her music gig to devote energy to businessAnanya Birla, founder of Svatantra Microfin, pauses her music career to prioritize business endeavors. Daughter of Aditya Birla Group's chairman, she manages key group companies and advocates mental health awareness through Mpower. With recent significant investments in Svatantra, she focuses on scaling her microfinance venture alongside her home decor brand Ikai Asai.
- Ajit Isaac buys the most expensive property on Bangalore's Billionaire Lane for ₹67.5 croreThe southern suburb of Koramangala has emerged as a thriving hub for entrepreneurship in the bustling city of Bangalore. With its prime location and strategic proximity to the city's business centers, Koramangala has become a sought-after neighborhood for startups and self-made billionaires alike.
- Sachin Bansal’s Navi eyes $2B valuation; Byju’s seeks arbitration in investor battleSachin Bansal-promoted Navi Technologies is in the market to secure external funding at a valuation of around $2 billion. Details of this and more in today’s ETtech Top 5.
- Sachin Bansal’s fintech Navi in talks to raise new funding at $2 billion valuation: sourcesThe $2-billion valuation Navi is seeking is lower than the previous funding discussions it had with investors. These discussions also come after Navi had filed for an IPO which had been approved by Sebi.
- Sachin Bansal's Navi to hire up to 100 people in tech team this yearNavi, backed by the erstwhile founder of Flipkart, Sachin Bansal, said that the expansion will enable the team to enhance its lending, health insurance, UPI, and mutual funds services, and explore new product lines. "As a part of this mandate, a batch of engineers hired through Navi's campus recruitment program will join the company in June 2024, with further hiring via multiple channels planned throughout the year," the statement said.
- Sachin Bansal's Navi Finserv to raise Rs 600 crore through NCDsThe company had raised around Rs 950 crore through two tranches of NCDs previously. This tranche will go live on February 26, 2024.
- Binny Bansal resigns from Flipkart board citing conflict with new ventureBinny Bansal, the cofounder of Flipkart, has officially resigned from the board of the ecommerce company. Bansal recently launched his own venture called OppDoor, a software services platform for emerging online retail brands. He remains on the board of PhonePe, an ecommerce company that has separated from Flipkart.
- Sachin Bansal’s Navi in slow lane; New Year spike for health, wellness D2C brandsSachin Bansal’s fintech venture Navi had big ambitions to digitally disrupt the financial services sector, but two of its flagship products have not been able to shore up much traction. This and more in today’s ETtech Morning Dispatch.
- Home loan, insurance business drag Sachin Bansal’s Navi into slow laneSachin Bansal-led Navi Finserv may have to rethink processes and get people on the ground, say experts. The company wanted to scale up its home loan disbursal to Rs 200 crore a month, back in 2022, but that growth has been elusive.
- Bengaluru biggest hub for most valued companies started by self-made entrepreneurs: ReportA majority 129 such industry leaders are from the Karnataka capital, which is ahead of Mumbai (78), and Gurugram and New Delhi (49), as per a report by Hurun India.
- Navi AMC to launch Navi Nifty 50 ETFNavi Nifty 50 ETF will trade on stock exchanges like a normal stock, with real-time prices. This means that investors can buy and sell the ETF throughout the trading day and seasoned investors can take advantage of intraday price movements in index funds.
- Walmart spent $3.5 billion to buy Flipkart shares from Tiger Global, Accel, Binny Bansal, others: FilingTiger Global and Accel Partners held about 5% collectively in the Bengaluru-based etailer. Tiger registered a $3.5-billion in profits on its Flipkart investment, as per a communication sent by the New York-based fund to its limited partners (sponsors in funds) on June 28. The retailer also bought the residual stake of Flipkart cofounder Binny Bansal along with other minority shareholders.
- Navi Mutual Fund launches Navi S&P BSE Sensex Index FundThe performance of the Scheme will be benchmarked with S&P BSE SENSEX Index (Total Returns Index). The scheme will be managed by Aditya Mulki and Ashutosh Shirwaikar.
- Sachin Bansal’s Navi Technologies set to launch UPI paymentsThe National Payments Corporation of India (NPCI) has been inducting newer players on to the UPI platform in hope to balance market share of players within the proposed 30% limit.
- Sachin Bansal-led Navi lays off 150-200 employees amid delayed IPOAt least 150 employees are likely to be impacted by the exercise, with the overall count of people leaving the company expected to cross 200 people, they said on condition of anonymity.
- Vaishnavi Group leases over 4 lakh sqft. office space to Navi Technologies in BengaluruSpread across 4 acres, the technology park offers a seating capacity for over 4,000 employees. The company led by Sachin Bansal has leased the office for nine years and 11 months and will be paying a rental of over Rs 200 crore over the next five years for the office asset located in the Outer Ring Road, Bangalore.
- Ace investor Sachin Bansal ups stake in this tyre stock during Q3The consensus estimate for the stock is "hold". JK Tyre has an average target price of Rs 177.67, which represents a downside of -2.06% from the current levels. On Thursday, the scrip was down about 0.38% to last trade at Rs 181.40 on the NSE.
- 'Ather Energy on road to 5x revenue growth in FY23'In the first seven months of this financial year ended October, the Hero MotoCorp and Sachin Bansal-backed company sold about 35,480 e-scooters. The monthly sales run rate has exceeded 8,000 units in recent months and the company is well on its way to producing and selling around 13,000 units a month by the January-March quarter, people cited above said.
- Tracxn Technologies garners Rs 139 crore from anchor investorsIt has decided to allocate a total of 1.74 crore equity shares to anchor investors at Rs 80 apiece, aggregating the transaction size to Rs 139.22 crore, according to a circular uploaded on BSE website.
- Thanks to Navi Mutual Fund, you can now invest Rs 10 in a mutual fundNavi Mutual Fund has reduced the minimum application amount across its schemes to Rs 10.
- Navi Technologies gets Sebi nod for initial public offeringNavi Technologies was issued the "observation letter" by Sebi on September 5, according to the latest update on the regulator's website.
- Amazon India marketplace revenue up 32%; ED unfreezes WazirX bank accountsAmazon Seller Services, which runs the Amazon India marketplace, reported a 32% jump in overall revenue to Rs 21,633 crore on a standalone basis for the financial year 2021-2022 (FY22), from Rs 16,378 crore a year ago.
- Sachin Bansal's Navi Technologies receives Sebi nod for Rs 3,350 crore IPOSachin Bansal, who earlier founded eocmmerce major Flipkart, started Navi in 2018 and has invested around Rs 4,000 crore into the entity till date, is not diluting his stake in the IPO.
- We need more modern banks to build an advanced economy: Sachin BansalFlipkart founder keen to take his financial services co public this fiscal year; getting banking licence remains long-term ambition; NBFC arm turns profitable in June qtr
- Sachin Bansal says India needs modern banks; exodus continues at Tesla IndiaBansal said that the country needs more modern banks if it is to build an advanced economy, as a handful of traditional banks can’t do that. He added that most people in the government and RBI would agree that there is a case for modern banks in India now.
- Sachin Bansal's Navi Finserv Rs 300 crore debt bond subscribed 1.4 timesThe bond was opened on May 23, 2022, but will close eight days before the last date of June 10 as the base issue has been oversubscribed
- Sequoia delays close of $2.8B fund amid probes; RBI dents Sachin Bansal’s banking dreamsThe storied venture capital firm has told its limited partners it has decided to postpone the close of its $2.8-billion India and Southeast Asia fund out of an abundance of caution.
- Sachin Bansal firm denied banking licence; Musk warns Twitter deal dead without fake-accounts proofIn total, the central bank rejected six of the 11 applications it received. Of the six, four applications were for universal bank licences and two were for small finance bank licences.
- Not the end of the road, says Sachin Bansal, after RBI denies banking permitThe RBI on Tuesday evening said it found Chaitanya India Fin Credit to be unsuitable for an ‘on tap’ banking licence. In total, the central bank rejected six applications of the 11 it received.
- Navi Finserv set to raise Rs 600 cr from public bond saleNavi Finserv, controlled by Flipkart cofounder Sachin Bansal, is set to raise ₹600 crore via a public issuance of bonds, supposedly the first such retail bond sale by a fintech company in India, three people familiar with the matter told ET. Navi, which deals in personal and home loans, is seeking to expand its credit portfolio via digital lending.
- Mid-week motivation: Rishad Premji reveals why he likes diversity in his team; Marico boss values progress more than perfectionFlipkart founder Sachin Bansal talks about the importance of change.
- How to overcome growth challenges? Cred founder asks leaders to express views; Marico boss calls entrepreneurship a 'lonely journey'Sachin Bansal said that he hates failures more than he likes winning.
- Mid-week motivation: Edelweiss MF CEO urges people to accept change, Flipkart boss says only dead people have fixed opinionsHinting at changing times, Wipro boss feels communicating with Gen Z via email is outdated.
- Sachin Bansal's Navi Technologies files draft papers for Rs 3,350-cr IPOThe proposed IPO is completely through a fresh issue of equity shares and there will be no offer-for-sale (OFS), according to the draft red herring prospectus (DRHP). Flipkart co-founder Bansal, who has invested around Rs 4,000 crore into Navi till date, is not diluting his stake in the IPO.
- Retail EV sales jump; Navi to file for IPO this weekAccording to the latest data from the Federation of Automobiles Dealers Association, retail sales of passenger EVs and two-wheelers saw a huge jump in February from the same period last year.
- Navi to file for IPO this week; BharatPe’s Nakrani praises ‘decisive’ boardSachin Bansal’s Navi Technologies, is ploughing ahead with its Rs 4,000-crore IPO and is set to file draft papers with Sebi this week.
- Sachin Bansal’s Navi to file for Rs 4,000-crore IPO this weekSachin Bansal, who has invested Rs 4,000 crore of his own capital in Navi, is expected to retain majority control in the firm even after the IPO.
- Sachin Bansal’s Navi Technologies gears up for IPO by end of 2022While Navi Technologies is still in discussions on the final IPO size, the company may look to file its draft papers with the Securities and Exchange Board of India near the end of this fiscal year.
- Sachin Bansal's Navi Mutual Fund files draft for blockchain fundSachin Bansal backed Navi Mutual Fund has filed draft for a blockchain fund. Navi Blockchain Index Fund of Fund will invest in units of overseas ETF’s and/or Index Fund that invest in the Indxx Blockchain Index.
- Binny Bansal’s Flipkart stock sale; Uber’s Rs 2 crore job offer at IITsBinny Bansal, who cofounded Flipkart along with Sachin Bansal, has scooped up a good sum by selling a part of his stake in the company. The remaining stock can result in further wealth creation at the time of Flipkart IPO.
- Directi founder Divyank Turakhia wealthiest Indian under-40 with Rs 12,500 cr net worthBrowserstack co-founders with wealth of Rs 12,400 cr each were second on the list.
- ETtech Startup Awards 2021: Celebrating breakthrough momentsThe 11-member jury described 2021 as a breakthrough one for the Indian startup ecosystem in the wake of two highly successful IPOs—those of Zomato and Freshworks.
- ET Startup Awards 2021: Jury members share views on winning startup ideasIn the run-up to the ET Startup Awards 2021 jury meeting on September 24, ETtech will bring you what the jury members expect in a winner.
- Sachin Bansal's Navi Mutual Fund plans to launch electric vehicles fundThe fund of funds will be benchmarked against the STOXX Global Electric Vehicles & Driving Technology NET Index. Apart from this, the fund house has filed documents for Navi Nifty India Manufacturing Index Fund and two international funds
- Sachin Bansal’s Navi Mutual Fund plans to launch e-vehicle fundThe mutual fund, previously known as Essel Mutual Fund, has filed papers with the Securities and Exchange Board of India to launch a Navi Electric Vehicles and Driving Technology FoF.
- Passive vs active vs international mutual fund: Which is the best option?Returns from international equity funds were, at best, subject to 20% tax after indexation. This gap has now closed because domestic equity fund returns are now taxable at 10% without indexation.
- Flipkart co-founder Sachin Bansal moves HC on Rs 11,000 crore FEMA noticeThe notice issued against Bansal and others alleged non-compliance with a condition in the consolidated FDI policy of 2010 in respect of issuance of shares of certain Flipkart Group companies to foreign investors during 2009-14.
- Flipkart case: Indemnity clause may shield WalmartSince the transactions under the scanner is for the period before Walmart took charge of the homegrown etailer, the indemnity clause is expected to protect the global giant from penalty, sources familiar with the exercise said.
- Flipkart could face huge fine; Jupiter raises $45MFlipkart, Binny Bansal and Sachin Bansal, as well as Tiger Global may get fined Rs 10,000 crore. Neobank Jupiter has raised $45 million from Brazil’s Nubank. Swiggy has tied up with Reliance BP Mobility for building an EV ecosystem.
- ED sends notice to Flipkart and its founders, asks why they shouldn't face $1.35 billion fineIndia's brick-and-mortar retailers say Amazon and Flipkart favour select sellers on their platforms and use complex business structures to bypass the foreign investment laws, hurting smaller players. The companies deny any wrongdoing.
- Quess Corp executive chairman Ajit Issac buys Rs 52 crore bungalow in BengaluruThe city’s entrepreneurial hub Koramangala, and in particular its third block, has become a coveted neighbourhood, with a bevy of self-made billionaires owning homes there. With the newly acquired home, Isaac will count Infosys co-founders Nandan Nilekani and Kris Gopalakrishnan along with Dr Devi Shetty and Rajeev Chandrasekhar among their neighbours.
- Navi Nifty 50 Index Fund NFO collects over Rs 100 crore in 10-daysInterestingly, NFO’s generally span over 15 days while Navi Nifty 50 Index Fund NFO hit the Rs 100 crore mark in a short span of 10 days.
- Financial services present large opportunity: Sachin BansalA few months after his exit from e-commerce major Flipkart, Bansal had turned his attention to the financial services space with Navi.
- Financial services present large opportunity, says Sachin BansalSachin Bansal believes that financial services present a large opportunity and by bringing a consumer tech thought process, new-age companies are well-positioned to tap it.
- Is it time to invest in the lowest costing index funds?In the last two years, passive investing has gained ground in India and many big mutual fund houses have launched various types of index funds and ETFs.
- Flipkart co-founder Sachin Bansal’s MF house launches cheapest Nifty index fundThe fund, with a proposed total expense ratio (TER) at 0.06 per cent, will be the cheapest such fund in the market. As of now, ICICI Prudential Nifty Index Fund with 0.1 per cent TER is currently the cheapest fund in the category.
- Be useful & don't be afraid to say 'I don't know': Sachin Bansal & Rishad Premji's leadership lessonsIndia Inc bosses drive away mid-week blues with their inspirational advice.
- Ather Energy expects to turn profitable by next yearThe company is looking to use its '450 platform' to spin more variants and also enter the mass market electric two-wheeler segment.
- JK Tyre jumps 18% as tyre stocks rally, Sachin Bansal invests in the companyFlipkart co-founder Sachin Bansal bought 1.34% stake in the company, becoming one of the largest individual shareholders, according to BSE data, and aiding the stock’s rally.
- Sachin Bansal's Navi Tech eyes Dabur-Aviva life insurance JVFlipkart co-founder keen to buy out Burman family and UK insurer for Rs 1,000-1,200 crore
- Ather Energy raises $35 million in Series D fundingAther Energy was one of the earliest start-up investments of Sachin Bansal when he invested $0.5 Mn in the firm as an angel investor in 2014 and with this round, has made a total investment of $53 Mn.
- What does it take to be an AIF managerAnyone approaching the Securities & Exchange Board of India (Sebi) in recent times for setting up an alternative investment fund (AIF)-- the regulatory term for PE, VC and angel funds — was told the key person, or at least one of them, must be either a chartered accountant or hold an MBA (Finance) degree.
- Walmart's Flipkart eyes overseas listing as early as 2021: Sources"Flipkart is incorporated in Singapore, but listing in the United States, where parent Walmart is headquartered, could give it access to a deeper pool of funds," one of the sources said.
- Sachin Bansal firm eyes stake in private life companyIt is not clear whether Navi is looking at buying a stake on its own or as part of a consortium. Sector regulator Irdai’s norms now allow private equity companies to come in as promoters.
- Sachin Bansal's Navi Technologies eyes stake at private life insurance firmsThe group is understood to have held talks with promoters of Future Generali Life Insurance for a possible acquisition.
- Navi's aim is to simplify financial services, improve affordability for billion users: Sachin BansalAfter moving out of Flipkart, Bansal - along with Ankit Agarwal - founded Navi in 2018. Currently, Navi offers unsecured loans of up to Rs 5 lakh for a 12-24 month period and underwrites it digitally.
- Medical cover sales turn lifeline for online insurance firmsStartups introduce health insurance covers for retail and group customers, tilting the overall segment mix towards this category.
- Sachin Bansal takes a dig at WHO, doubts medical advice given by the health bodyWorld leaders have slammed and questioned WHO's transparency about the outbreak
- From Sachin Bansal's Twitter: 'If Covid lockdown happened in my childhood, my dad's business would have failed'Sachin Bansal's hot take on the coronavirus lockdown.
- Sachin Bansal's Navi group credit finance company gets stable rating for Rs 500 crore debtThis rating has come at a time when the industry is reeling under lockdown, mandated to curb the deadly coronavirus.
- Ugro Capital pays back Rs 50 crore debt to Sachin BansalUgro is focused on lending to small businesses and lends only to select sectors. Following the RBI direction to allow all borrowers to opt for a three-month repayment moratorium the NBFC has allowed its customers to avail of the moratorium.
- Sachin Bansal-led Navi Technologies scoops up Rs 204 cr from Gaja CapitalThe documents filed by the Bengaluru-headquartered company show that Navi Technologies has allotted 1.45 crore equity shares, at a price of Rs 140.50 apiece, to three entities—Gaja Capital Fund-II, GCFII-B and Gaja Capital India AIF Trust.
- U Gro Capital redeems Sachin Bansal’s NCDs ahead of scheduleThe redemption has come ahead of maturity at a time when most NBFCs are struggling with liquidity stress, U Gro Capital said in a statement.
- Sachin Bansal and others put Rs 3,000 crore in Navi TechAs per a valuation report filed by the company, the financial securities, worth Rs 1,636.1 crore, and which could include, pass through certificates, mutual funds, certificates of deposit, listed and unlisted non-convertible debentures, will be received by Navi Technologies, for the issue of additional equity shares.
- The ‘work from home’ dilemma: Sachin Bansal isn't a fan of WFH, leaves Twitter divided with his opinionFlipkart co-founder's recent tweet caused a furor on Twitter.
- Sachin Bansal's wife files dowry harassment case against himThe FIR detailed that Priya Bansal’s father spent Rs 50 lakh on the marriage ceremony and the bride’s family handed over Rs 11 lakh in cash to Sachin in lieu of buying a car.
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