Sachin Bansal, others pump in over Rs 3,000 crore in Navi Technologies, Technology News, ETtech

Sachin Bansal, others pump in over Rs 3,000 crore in Navi TechnologiesNavi Technologies, the financial services holding company controlled by Flipkart co-founder Sachin Bansal, has raised over Rs 3,000 crore, after he and other investors infused fresh capital into the Bengaluru-headquartered company.

According to documents filed with the Registrar of Companies, sourced from business intelligence platform Tofler, Bansal has been allotted 20.84 crore equity shares at Rs 140.50 a piece, having paid Rs 253.01 crore in cash and an additional Rs 2,675.08 crore in other financial securities.

As per a valuation report filed by the company, the financial securities, worth Rs 1,636.1 crore, which could include pass through certificates, mutual funds, certificates of deposit, listed and unlisted non-convertible debentures, will be received by Navi Technologies, for the issue of additional equity shares.

Separately, Ankit Agarwal, chief financial officer of Navi Technologies, has been allotted 28.45 lakh shares in the company, earlier known as BAC Acquisitions, for an investment of Rs 39.98 crore.

Samit Shetty and Anand Rao, the two founders of microfinance and non-banking financial company Chaitanya Rural Intermediation Development Services (CRIDS), which was acquired by Bansal last year, have invested Rs 23.24 crore and Rs 3.93 crore, respectively.

Veteran banker Paresh Sukthankar, who has been advising Bansal, has also invested Rs 10 crore into Navi Technologies, which has applied for a universal banking licence.

A private placement offer, amounting to Rs 3,226 crore, has also been floated to a number of individuals, including Anirban Mukherjee, chief executive of PayU India and Kaushika Madhavan, managing partner and India head of global management consulting firm Kearney.

Digital publication Entrackr was the first to report the development.

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