Bansal could likely invest $400-450 million in the new venture, according to estimates, which will likely make it one of the biggest equity...

U Gro will use the funds to expand its businesses at a time when capital is scarce for the sector.

Flipkart co-founder acquires 94% stake in Bengaluru-headquartered Chaitanya Rural for Rs 739 crore.

Unlike his past bets, where he has played the role of a financial investor alone, Bansal will lead the microlender as its chief executive.