Flipkart co-founder Sachin Bansal has invested Rs 650 crore in online cab service provider Ola. This information came out from the documents filed with the Registrar of Companies (ROC).
According to the documents, Sachin Bansal has purchased 70,588 ‘Series J’ preferential shares in Ola at Rs 21,250 per share.
It is believed that this investment is part of Bansal’s commitment to investment of $ 100 million in Ola, about which the Economic Times gave its first information in its version of October 11 last year.
After selling stake in Walmart to Flipkart last year, Bansal received nearly 1 billion dollars. Walmart bought a 77 percent stake in Flipkart for $ 16 billion.