[Funding alert] Flipkart Co-founder Sachin Bansal invests Rs 200 Cr in Piramal Enterprises' debt
The Flipkart co-founder has been an active investor in the Indian startup ecosystem putting his money into companies such as Ola, Ather Energy, and Unacademy to name a few.Thimmaya Poojary
Sachin Bansal, the co-founder of Flipkart, continues to diversify his investment portfolio by placing his bets on the financial services business of Piramal Enterprises.
According to reports, Sachin has invested Rs 200 crore in the debt issue of Piramal Enterprises through the non-convertible debenture (NCD) route. Apart from financial services, Piramal Enterprises has business interest in the pharmaceutical segment. The coupon rate on these NCDs is 9.5 percent, and is spread over a period of two years.
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Sachin, who exited from Flipkart following its acquisition by global retailer Walmart in 2018 in a $16 billion, has been making various bets across multiple industry segments. He reportedly received over $1 billion for his stake sale in Flipkart.
The Flipkart co-founder also formed a company named BAC Acquisitions, which has made investments in companies such as Bounce and KrazyBee, which is a combination of both debt financing and equity round.
Early this year, Sachin invested $93 million in Ola, which is seen as one of his largest round of investments. Commenting on the same, Sachin, in an earlier interaction with YourStory, had said, “I am taking a long-term view with this Ola investment. Someone rightly said that if you think less than two years, it is all speculation; it is not really investing. Investing means you have to be there.”
His other major investments in Indian startups includes Ather Energy, Sigtuple, and Unacademy.
One of the earliest investment by Sachin Bansal was into electric two-wheeler manufacturer Ather Energy as an angel investor in 2014. In May this year, he announced an investment of $32 million into this startup.
There were also reports that he would acquire a majority stake in micro-finance institution Chaitanya Rural.
Binny Bansal, the other co-founder of Flipkart, is also an active investor in India’s startup ecosystem, and has also founded a firm called xto10x.
(Edited by Megha Reddy)