Flipkart co-founder Sachin Bansal has invested whooping 150 crores in cab company Ola. The deal has not been confirmed by either Bansal or Ola yet, the news came from a report of Bussines Standard.
Bansal departed from Flipkart after the US MNC Walmart acquired more than 77 per cent shares of India’s own e-Commerce for One Lakh crore Rupees in August last year.
Ola’s parent company is ANI technologies. And Sachin Bansal bought 70,588 preference shares of ANI technologies on last Sunday.
The news is confirmed by Bussiness Standard. BS came to be possession of the news by seeing the documents filed with the Registrar of Companies.
The Ola founder Bhavish Aggarwal is a monetary dispute with Ola’s largest stakeholder SoftBank. Steadview also has invested 74 million dollars (524 crores) in Ola.
Ola is going in funding phase called J round series in which it is luring investors to invest large sums in the company. After Bansal’s investment, the company's total value increased to 5.7 billion (around 40,00 crore rupees).