{"id":52591,"date":"2019-01-15T10:55:45","date_gmt":"2019-01-15T10:55:45","guid":{"rendered":"http:\/\/blastingskyhawk.com\/?p=52591"},"modified":"2019-01-15T10:55:45","modified_gmt":"2019-01-15T10:55:45","slug":"flipkart-co-founder-sachin-bansal-pumps-rs-150-crore-into-ola","status":"publish","type":"post","link":"https:\/\/blastingskyhawk.com\/english\/flipkart-co-founder-sachin-bansal-pumps-rs-150-crore-into-ola\/","title":{"rendered":"Flipkart co-founder Sachin Bansal pumps Rs 150-crore into Ola"},"content":{"rendered":"<p>Flipkart co-founder Sachin Bansal has pumped in about Rs 150 crore in ride-hailing platform Ola, according to documents filed with the Corporate Affairs Ministry.70,588 fully and compulsorily convertible, cumulative \u2018Series J\u2019 Preference Shares\u2019 having face value of Rs 10 having the rights, privileges and preferences&#8230; is hereby allotted at a subscription price of Rs 21,250,\u201d the documents showed.<\/p>\n<p>This translates into an investment of about Rs 150 crore by Bansal, who left Flipkart after the US retail giant Walmart picked up 77 per cent stake in the e-commerce company for $16 billion.The resolution was passed at a board meeting of ANI Technologies, the entity that runs Ola, on January 12, according to the documents.<\/p>\n<p>According to sources, Bansal is pumping Rs 650 crore in total and the Rs 150 crore funding is part of the total investment.The allotment of these shares to Bansal is part of Ola\u2019s plans to raise about USD 1 billion in funding, they added.<\/p>\n<p>In October last year, the Bengaluru-based company had announced raising USD 1.1 billion funding from China\u2019s Tencent Holdings and SoftBank Group. It had also stated that it was in \u201cadvanced talks\u201d to close an additional USD 1 billion funding to take total mop-up to more than USD 2 billion.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Flipkart co-founder Sachin Bansal has pumped in about Rs 150 crore in ride-hailing platform Ola, according to documents filed with the Corporate Affairs Ministry.70,588 fully and compulsorily convertible, cumulative \u2018Series J\u2019 Preference Shares\u2019 having face value of Rs 10 having the rights, privileges and preferences&#8230; is hereby allotted at a subscription price of Rs 21,250,\u201d [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":52592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-52591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/52591","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=52591"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/52591\/revisions"}],"predecessor-version":[{"id":52593,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/52591\/revisions\/52593"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/52592"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=52591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=52591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=52591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}