Cash rights issue · Fintech
Navi predecessor BAC Acquisitions receives ₹50 crore from Sachin Bansal
Bansal funded the new business through a cash rights issue in January 2019.
BAC Acquisitions, the business later renamed Navi Technologies, received ₹50 crore in cash equity from Sachin Bansal in a rights issue reported on 31 January 2019. The company allotted 50 lakh shares to Bansal at ₹100 each.
Bansal and Ankit Agarwal established the business after Bansal’s departure from Flipkart. It was intended to develop technology platforms for business automation, alongside investments and acquisitions. The January funding provided capital for the new venture.
Funding history
Cash rights issue · This round₹500M