Sachin Bansal-at-a-glance: From Flipkart to Navi IPO

As Sachin Bansal-led financial services firm Navi makes a bid to raise Rs 3,500 crore from the public markets, here is a look at his business moves which paved the way.

Tuesday March 15, 2022 , 3 min Read

Good Morning,

When Sachin Bansal co-founded an online bookstore called Flipkart in October 2007, little did he know that he would one day become one of the most-watched startup founders of India.

Ten years into the Flipkart journey, Sachin formally announced his exit from the ecommerce giant in 2018 after the deal with Walmart. All eyes were on Sachin’s next endeavour.

Over the years, BAC Acquisitions (BACQ), which Sachin co-founded with IIT Delhi batchmate Ankit Agarwal, has been in the media spotlight for its bets on startups such as electric vehicle companies Bounce and Vogo Automotive, apart from merchant credit platform Kissht and consumer electronics company, boAt Lifestyle, which has also filed its DRHP for a public listing this year.

Now, as Navi Technologies, the holding company for BACQ, prepares for its Rs 3,350 crore IPO, all eyes are once again on the prolific investor and the OG of India’s startup ecosystem.

Read more about Sachin’s strategic career moves over the years and how he built Navi, here.

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News & Updates

The RBI's ban on Paytm Payments Bank from accepting new users came after its servers were reportedly found to be sharing information with China-based entities. Following this development, parent company One 97 Communications' stock price dropped to an all-time low of Rs 662.25 apiece on the BSE.

BharatPe has launched gold loans for merchants partners, marking their entry in the secured loans category. The company has partnered with RBI-approved NBFCs to offer gold loans of up to Rs 20 lakh.

MakeMyTrip introduced limited-edition NFTs (non-fungible tokens) to commemorate and celebrate India’s rich biodiversity. The NFTs highlight India’s diverse landscapes, flora, and fauna.

Overall exports from India, including merchandise and services, reached $57.03 billion in February 2022, witnessing a 25.41 percent growth vis-à-vis the same month last year, according to data released by the government.

Niramai Health Analytix, the deeptech Bengaluru-based healthcare company offering a novel radiation-free, non-touch, accurate, breast cancer screening solution in India, has now received US FDA clearance for their first device, SMILE-100 System.