Flipkart Co-Founder Sachin Bansal Likely to Sell $100 Million Stake in Ola: Report

Flipkart co-founder Sachin Bansal is reportedly planning to sell his $100 million stake in Bhavish Aggarwal’s ride-hailing company, Ola, according to The Economic Times. Bansal, who made the investment in 2019 when Ola was valued at around $3 billion, is now seeking to sell his stake based on a valuation of approximately $4 billion.

The deal’s finalization will depend on the agreed valuation. The report mentions that Bansal has initiated discussions with several large family offices and private investment units, with one source noting, “This could be an entry into Ola ahead of its IPO, but the valuation Bansal agrees upon will be crucial.”

Bansal and Aggarwal, long-time acquaintances, have both built their businesses to compete with global players like Uber and Amazon.

Bansal’s decision to sell his stake in Ola is reportedly tied to his increasing focus on his fintech venture, Navi. In 2023, he sold his stake in Ather Energy to Zerodha co-founder Nikhil Kamath. The report also suggests that Bansal is exploring external fundraising for Navi, although no final decision has been made.

Navi’s Regulatory Challenges

Navi recently faced regulatory hurdles. In October, the Reserve Bank of India (RBI) temporarily barred its lending arm, Navi Finserv, from issuing loans due to high interest rates, though the restriction was lifted in December.

Ola’s Valuation Drop

Ola, once valued at $7.3 billion in 2021, saw its valuation drop to $2 billion in August 2024, as per Vanguard. This marks a significant decline from its peak despite raising $139 million in 2021.