Former Flipkart CEO Sachin Bansal acquires DHFL General Insurance

Flipkart co-founder and former CEO Sachin Bansal has acquired DHFL General Insurance from Kapil Wadhawan-led Wadhawan Group Capital (WGC) for around Rs 100 crore.
WGC is the parent company of debt-laden Dewan Housing Finance Limited (DHFL) and this deal is seen as a distress sale.
With this acquisition, Bansal has entered into insurance business, and the investment is also seen as part of his strategy to enter into financial services industry.
In the recent past, Bansal had done multiple investments in insurance business to increase his portfolio of firms in the sector.