Flipkart cofounder Sachin Bansal is in talks to sell his $100M Ola stake. He’s negotiating a premium valuation of $4B for the ride-hailing company.
Bansal aims to liquidate Ola holdings to fund Navi, his fintech venture. Navi has faced regulatory challenges while attempting external fundraising.
Investors recently cut Ola’s valuation to $2B (Aug 2024) from its peak of $7.3B in 2021. This may affect the final deal for Bansal’s stake.
Navi Finserv faced RBI restrictions on lending, which were lifted in Dec 2024. Earlier fundraising talks for a $2B valuation fell through.
Ola plans to launch its IPO by FY26. The company is rebranding as Ola Consumer, expanding into grocery delivery and dark store services.
Ola posted a ₹1,082 crore loss in FY23, though revenue grew by 58% to ₹2,135 crore. FY24 financials are awaited for further insights. Source – The Economic Times