Sachin Bansal Poised To Acquire Bengaluru-Based Microfinance Firm
12 April 2019 1:08 AM GMT
BAC Acquisitions has passed a board resolution to incur expenses to appoint or fulfil due obligations of a ?target acquisition?.
- After exiting the ecommerce company last year, Flipkart cofounder Sachin Bansal has been investing in NBFCs, and is expected to make more inroads with his new venture, BAC Acquisitions.
- According to filings by the company, it has got shareholder approval for another "target acquisition".
- A media report today (April 12) cited sources to claim that Sachin Bansal is looking to acquire as much as 75% stake in Bengaluru-based Chaitanya Rural Intermediation Development Services which runs a microfinance institution, Chaitanya India Fin Credit (CIFCPL) in a deal worth INR 200 Cr.
- Also, later reports surfaced that Bansal has been in discussions with financial experts on the potential to launch a new venture in the fintech sector.