Flipkart co-founder Sachin Bansal is in talks with investors to sell his $100 million stake in the ride hailing company, Ola. The closure of this deal will depend on the valuation as Bansal is valuing the company at around $4 billion, aiming for a premium in the sale, The Economic Times reported.
Sachin Bansal invested $100 million in Ola in 2019, which was his biggest personal investment in a start-up. The valuation of Ola at the time was reportedly estimated to be around $3 billion, as details of this investment were not disclosed publicly.
Reason for Sale
Bansal’s fintech venture Navi has recently experienced some regulatory and financial setbacks. Its non-banking financial arm, Navi Finserv was temporarily restricted on lending by the Reserve Bank of India (RBI). The restriction was lifted in December 2024 but later Navi was denied a banking licence which resulted in failure to secure funding from Temasek.
Bansal is now planning to reshift his entire focus on Navi. The funds raised through this sale will be used to strengthen Navi’s financial position.
Despite the setbacks, Bansal reportedly discussed raising funds at a valuation of $2 billion for Navi in April 2024. He has been exploring external fundraising for the start-up, but those discussions are yet to materialise.
Bansal’s Ather Exit
In April 2024, Electric two-wheeler maker Ather Energy was in talks for raising a “significant round of funding” in a mix of primary and secondary share sales.
Sachin Bansal who was an existing investor in the start-up, sold a significant part of his holding in the start-up to Zerodha cofounder Nikhil Kamath. They further said that Kamath might buy out Bansal’s remaining stake in the firm as well.
Ola IPO
Bhavish Aggarwal led Ola is preparing for an IPO by the end of next financial year ending March 2026. Existing investors have been in talks with the company about selling shares during the public offering.
Ola’s valuation has seen a sharp decline in recent months. Vanguard valued Ola at $2 billion as of August 2024 — a major fall from $7.3 billion in 2021 when the company raised $139 million in new funding.
