In the largest financing by an individual in the history of Ola, Flipkart co-founder Sachin Bansal has invested about Rs 650 crore in the Indian ride-hailing company to compete with the rival Uber.
While Walmart holds approximately 77 per cent of Flipkart, the remainder of the business is held by other shareholders, including Flipkart co-founder Binny Bansal, Tencent, Tiger Global and Microsoft Corp
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company after the deal. Bansal will sell his 5.5 pc stake to Walmart.
