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Navi Technologies raises Rs.3000crores by Flipkart and others

According to documents filed with the Registrar of Companies, Bansal has been allotted 20.84 crore equity shares, at Rs 140.50 per share, having paid Rs 253.01crore in cash, and an additional Rs 2,675.08 crore in other financial securities.

Sachin Bansal's Navi Technologies, the financial services holding company has raised over Rs 3,000 crore as Flipkart cofounder and other investors infused fresh capital into the company.

According to documents filed with the Registrar of Companies, Bansal has been allotted 20.84 crore equity shares, at Rs 140.50 per share, having paid Rs 253.01crore in cash, and an additional Rs 2,675.08 crore in other financial securities.

As per a valuation report filed by the company, the financial securities, worth Rs 1,636.1 crore, and which could include, pass through certificates, mutual funds, certificates of deposit, listed and unlisted non-convertible debentures, will be received by Navi Technologies, for the issue of additional equity shares.

Additionally, Ankit Agarwal, chief financial officer of Navi Technologies, has been allotted 28.45 lakh shares of the company, which was formerly known as BAC Acquisitions, having invested Rs 39.98 crore. Samit Shetty and Anand Rao, the two founders of microfinance and non-banking financial company Chaitanya Rural Intermediation Development Services (CRIDS), which was acquired by Bansal last year, post his fractious departure from Flipkart, have invested Rs 23.24 crore and Rs 3.93 crore, respectively.




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