Sachin Bansal invests in Altico, IndoStar Cap

Flipkart co-founder Sachin Bansal has invested ₹250 crore each, via debt, in non-banking financial companies (NBFC) Altico Capital India Ltd and IndoStar Capital Finance Ltd, two people familiar with the development said.

The investment was made through BAC Acquisitions Pvt. Ltd, the holding company Bansal started with investment banker Ankit Agarwal, said the first of the two persons, both of whom spoke under condition of anonymity. The deals follow his investment in ride hailing firm Ola.

“The capital raised from Bansal will help these lenders manage their working capital requirements and to leverage their books. The debt was raised through non-convertible debentures,” he added.