[Funding alert] Sachin Bansal invests Rs 25 Cr in Chaitanya India Finance
As per the filings, the Flipkart Co-founder has been allotted 250 shares of the company with a face value of Rs 10 lakh each as unrated non-convertible debentures.
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Flipkart Co-founder Sachin Bansal has invested Rs 25 crore in Chaitanya India Finance, according to the Registrar of Companies (RoC) filings accessed by YourStory.
Chaitanya India Finance is a Bengaluru-based micro-finance company run by Chaitanya Rural Intermediation Developments Services. Founded in 2009, it currently operates across Karnataka, Maharashtra, and Bihar. The company provides joint liability group loans along with financial literacy programmes to rural communities in the three states.
Flipkart Co-founder Sachin Bansal
As per the filings, Sachin has been allotted 250 shares of the company with a face value of Rs 10 lakh each as unrated non-convertible debentures.
Media reports suggest that with this investment in Chaitanya, Sachin might take a more active hand in running the business as he has now acquired a larger stake in the company.
After exiting Flipkart following its acquisition by global retailer Walmart in 2018, Sachin has been investing in various companies across sectors.
He joined hands with former investment banker Ankit Agarwal and 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 being 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 the 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 include Ather Energy, Sigtuple, and Unacademy.
Earlier this month, Sachin invested Rs 200 crore to Piramal Enterprises’ debt, owned by Ajay Piramal. In February this year, he invested Rs 250 crore in non-banking financial companies such as Altico Capital and Indostar Capital Finance.
(Edited by Megha Reddy)
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