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FLIPKART CO-FOUNDER SACHIN BANSAL TO INVEST IN OLA

According to the information received from the documents that were filed with the corporate affairs ministry, co-founder of Flipkart, Sachin Bansal has pumped in approximately 150 crore rupees in Ola, a ride-hailing platform. 

The documents also show that 7,588 compulsorily and fully convertible cumulative ‘Series J’ preference shares that have the face value of 10 rupees having the privileges, preferences and rights were thereby allotted at a subscription price of 21,250 rupees. 

This actually translates into an investment of Sachin Bansal of approximately Rs 150 crore after he left Flipkart since Walmart picked up 77% stake in the company for 16 billion dollars. Emails sent to Sachin Bansal and Ola did not elicit any response. 

According to the information received from the sources, Sachin Bansal is going to pump in Rs 650 crores in total and the funding of Rs 150 crore is just a part of the total investment.

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