New Delhi: Flipkart co -founder and veteran industrialist Sachin Bansal is going to start a new business shift. Bansal bought a major stake in Chaitanya Rural Intermediation Development Services (CRIDS) for Rs 739 crore. Bansal, who has been an active investor in the Indian start-up ecosystem, including companies like Ola and Bounce, will hold the post of CEO (CEO) at Crids. It is a non-banking financial company. Most of its business is related to microfinance. Its founders Anand Rao and Samit Shetty continue to play the role as before. According to a statement, a total investment of Rs 739 crore will be made by Sachin.
He will also take over the role of CEO of CRIDES and will provide additional support to further accelerate business development, with both Samith Shetty and Anand Rao continuing to play related roles to grow the existing business. The statement said that the various business units would continue to operate as before and there would be no significant change in management.
Actually, Walmart had sold its stake after buying Flipkart. From here, his journey with Flipkart ended. The world's largest company, Walmart, bought Indian e-retail giant Flipkart. Walmart bought a 77% stake in Flipkart in May last year for $ 16 billion. Bansal invested Rs 650 crore in Ola in February. Let us tell you that CRIDS was established to provide financial assistance to the rural population of the country.
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