Sachin Bansal likely to join Chaitanya India Fin Credit as CEO

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Sachin_BansalSachin Bansal, 37-year-old internet billionaire and Flipkart’s co-founder may soon join Bengaluru-based microfinance firm Chaitanya India Fin Credit as its Chief Executive Officer (CEO).

Last year, Bansal had put down his papers from the company he founded and sold his entire shareholding of 5.5 percent to Walmart as part of the sale of Flipkart to the United States retail giant.

Reports suggest that, his new stint at the banking domain would be a deal which could be a blend of the primary and secondary sale of shares is in the final stages and could get Bansal as much as 75 percent stake in Chaitanya Rural Intermediation Development Services which runs a microfinance institution, Chaitanya India Fin Credit (CIFCPL).

Industry sources report that Bansal’s net worth currently stands at $1 billion. Post his exit from Flipkart Bansal has been showing a keen interest in the finance space. He has been investing in Non-Banking Financial Companies (NBFCs). He is reported to have invested in first two investments have been in Non- Altico Capital India and IndoStar Capital Finance via debt of $35.16 million each.

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