Sachin Bansal buys DHFL Gen Insurance: Report

Sachin Bansal buys DHFL Gen Insurance: Report

Flipkart co-founder Sachin Bansal. (DH File Photo)

Flipkart co-founder Sachin Bansal has bought DHFL General Insurance from Wadhawan Global Capital (WGC) for around Rs 100 crore, according to a report by The Economic Times.

DHFL General Insurance was a fully-owned subsidiary of Wadhawan Global Capital, the holding company of bankrupt home financier Dewan Housing Finance Ltd (DHFL).

The acquisition of the insurance firm is seen as a part of Bansal's broader plan in the financial services industry as he has been stocking up his portfolio of firms in the sector.

According to the report, the deal was routed through Navi Technologies, formerly BAC Acquisitions which Bansal had founded along with IIT-Delhi batchmate Ankit Agarwal after selling his stakes in Flipkart in 2018.

In September 2019, Bansal, who has been an active investor in the Indian start-up ecosystem including companies like Ola and Bounce, assumed the role of CEO at Chaitanya Rural Intermediation Development Services (CRIDS), a non-banking financial company.

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