The co-founder of the e-commerce behemoth Flipkart may invest $100 million in the Bhavish Aggarwal led ride-hailing firm, Ola. As per reports, this is the largest individual investment till date in Indian internet space.
Accounting for almost ten percent of his personal wealth accrued through the Walmart deal, this is of great personal significance to Sachin Bansal. Earlier this year, Bansal was forced to exit Flipkart after the $16 billion Flipkart-Walmart deal and speculations of him turning into an investor began to surface.
This news has sparked a new wave of discourse and it is reported that Bansal is all set to make an entry into Ola as a small yet significant shareholder. According to media reports, the investment will be made via Ola share subscriptions while a small part of the shares will also come in through secondary sale via existing investors.