Flipkart co-founder Sachin Bansal has acquired a general insurance company and applied for a bank licence, as he takes rapid strides to build a diversified financial services business after leaving the online retailer in 2018.

— VCCircle

Navi Technologies, owned by Sachin Bansal, acquired 100% of the share capital of DHFL General Insurance from Wadhawan Global Capital for a deal consideration of nearly INR 100 crores, while selling a minority stake to IFC to bid for a banking licence.

Khaitan & Co advised Wadhawan Global Capital Limited led by a team of partner Niren Patel, principal associate Saswat Subasit, senior associate D Preethika and associate Kriti Gangwar.

2020-01-10

Deal value: $13m

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