Bansal, who cofounded Flipkart together with Binny Bansal in 2007, bought his whole stake within the ecommerce agency in 2018. This was on the time of its sale to US retail large Walmart. Bansal went on to deploy majority of the proceeds from his Flipkart exit into Navi and has by no means raised exterior capital.
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The $2-billion valuation is decrease than the earlier funding discussions Bansal’s Navi had with buyers, folks within the know mentioned.
Additionally learn | Residence mortgage, insurance coverage enterprise drag Sachin Bansal’s Navi into sluggish lane
“As an organization coverage, we chorus from commenting on speculative discussions or rumours about our enterprise methods,” a spokesperson for Navi instructed ET.
In November, Ananya Birla-led Svatantra Microfin accomplished the acquisition of Bansal’s Navi Group’s subsidiary Chaitanya India Fin Credit score in a deal valued at Rs 1,479 crore.
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