- Sachin Bansal invested in OLA Cabs amounting to INR 650 crores.
- DHFL owns around INR 40,000/- crores to several banks.
It’s been sometime Flipkart’s owner Sachin Bansal has not been in limelight. But not anymore! After spending 11 years, he departed when Walmart expressed interest in Flipkart. Can you guess what he’s up to now?
Tracking down his activities after departing from Flipkart clearly tells one thing that Sachin Bansal is aiming for something big in BSFI (Banking Financial Service Insurance), generally speaking, now he’s eyeing on banking and insurance market.
Bansal recently brought DHFL General Insurance for INR 100 crores from Wadhwan Global Capital (WGC). WGC is the parent company of DHFL – which has been reported bankrupt. Wadhwan group is distressed with Sachin Bansal buying this general insurance firm.
Wadhwan Global Capital also owns – Adhar Housing Finance, Avanse Financial Service, DHFL Pramerica Asset Managers, DHFL Pramerica Asset Managers, DHFL Pramerica Life Insurance along with DHFL General Insurance.
Experts say this initiative of Sachin Bansal is a part of his broader ambition in the financial services industry. The deal was routed through Navi Technologies formally known as BAC acquisitions founded by Sachin Bansal and Ankit Agarwal (his batchmate from IIT Delhi).
After departing from Flipkart, he started focusing on financing through debt in a plethora of start-ups like Bounce, Vogo, Altico Capital, IndoStar finance and many more.
“Bansal wants to get a footing into the banking and financial services sector. There has been a lot of talk about him being keen on obtaining a banking license and has been looking at opportunities in the asset management space,” a source said.
Sachin also purchased Chaitanya Rural Intermediation Development Services (CRIDS) for around INR 739 crores and took over as CEO of a Bangalore based NBFC.
WGC earlier this year sold around 49.04% stake in Avanse Financial Services. Another group of companies, Dewan Housing held 30.63%.
Everything leads us to one single direction that Sachin Bansal is aiming for something big in the financial sector when banks are loaded with hefty debts from various businesses as well as common people are scared to trust their banks because of major frauds happened last year.
