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.