Flipkart founder Sachin Bansal looks to sell Ola stake ahead of IPO

Flipkart founder Sachin Bansal is looking to sell his stakes in Bhavish Aggarwal’s Ola. According to a report by Economic Times, Bansal has initiated talks to sell his stake in the ride-hailing company. Citing unnamed sources, the report states that Bansal is seeking to exit at a valuation of around $4 billion, a premium over the $3 billion valuation when he initially invested six years ago. “Yes, the deal has come to us. The idea being this could be an entry in Ola right before the IPO but valuation at which Bansal agrees will be key to the deal,” one of the sources aware of the matter told the publication.

The report adds that Bansal has already consulted with Ola founder Bhavish Aggarwal regarding the potential sale. To recall, Sachin Bansal invested $100 million in Ola in 2019.