your password has been reset successfully, Please login again.

Sachin Bansal, Flipkart Co-Founder, Invested $21 Million In Ola

Sachin Bansal acquired shares in Ola worth $21 million.
BY BEx Bureau
BusinessEx
Jan 14, 2019

A major investment in Ola, ride-hailing firm, has been made by Flipkart Co-founder, Sachin Bansal. Bansal has procured 70,588 Series J shares which worth Rs. 21,250 per share. The investment is one of the significant investments for the Indian ride-hailing company as it was keenly looking for the investors. Bansals investment is second in the series after Steadview Capital endowed money up to $ 74 million earlier this month.

The document registered with the registrar of companies (RoC) testifies the business deal. The investment is said to be part of a larger $100 million investment that Bansal had committed to Ola last year. (Source: ET)

In the past few years, Flipkarts Co-founder, Sachin Bansal and Olas Co-founder, Bhavish Aggarwal, has become close friends. The duo has shared their concern over how domestic startups lacked a level playing field against their deep-pocketed global rivals. (source: ET)

Back in December 2016, Sachin Bansal had made a statement while addressing global companies, We need your capital, not your companies. ( source: ET)

So, the present investment is an important move by the industrialist to fortify domestic ride-hailing company, Ola.

Please add your Comment
SIMILAR News
May 22, 2019
Spinny will be deploying the fresh capital to widen its footprint in Bengaluru. ...More
By Jaspreet Kaur
May 22, 2019
Edelweiss Insurance Brokers, a subsidiary of Edelweiss Financial Services, will sell a small portion ...More
By Jaspreet Kaur
May 21, 2019
According to the strategic partnership, Padukone will possess equity in the company ...More
By Jaspreet Kaur
May 21, 2019
Livspace will be utilizing funds in various domains such as in creating novel home interior solution ...More
By Jaspreet Kaur
May 20, 2019
The Indian infra firm, IL&FS (Infrastructure Leasing and Financial Services) proclaimed that Japanes ...More
By Jaspreet Kaur
May 18, 2019
 Nippon Life will disburse nearly INR 4,484 crore to obtain a major stake of Reliance Capital in the ...More
By Jaspreet Kaur
May 18, 2019
Brookfield Asset Management’s CEO wishes Howard Marks, Co-founder of Oaktree Capital, to continue do ...More
By Jaspreet Kaur
May 15, 2019
Innoven Capital proclaimed that the company obtained an extra $200 million capital investment from s ...More
By Jaspreet Kaur
May 15, 2019
National Mineral Development Corporation Ltd (NMDC), government-owned mineral producer plans to inve ...More
By Jaspreet Kaur
May 14, 2019
Global PayEx proclaimed that JP Morgan has done strategic investment in the company so the company c ...More
By Jaspreet Kaur
May 14, 2019
With the investment in Simi Reality Motion, ZF will increase in proficiency beyond the current occup ...More
By Jaspreet Kaur
May 13, 2019
SRF has proclaimed that will sell its engineering plastics entity to DSM for INR 320 crore ...More
By Jaspreet Kaur