Navi receives ₹150 crore in cash equity from Sachin Bansal
The founder’s cash subscription formed part of a larger transaction involving existing financial securities.
Sachin Bansal invested approximately ₹150 crore in cash in Navi Technologies, formerly BAC Acquisitions, in a rights issue reported on 14 November 2019. He received about 1.15 crore equity shares at ₹130 each.
A further 5.68 crore shares were issued in exchange for existing financial securities. Those assets accounted for most of the reported ₹888.5 crore transaction value; the cash component was ₹150 crore.
Expanding the investment platform
Bansal and Ankit Agarwal established BAC Acquisitions after Bansal’s departure from Flipkart. The business invested in financial-services and technology companies through equity and debt, while Bansal was expanding his interests in lending, insurance and asset management.