Flipkart co-founder Sachin Bansal has picked up a majority stake in Bengaluru-based microfinance company Chaitanya Rural Intermediation Development Services (CRIDS).
Bansal has acquired a 94% stake, allowing a majority of the existing investors in Chaitanya to exit through the deal. He is investing Rs. 739 crore in the NBFC, reported ET.
AZB & Partners acted for Sachin Bansal and the team was led by Partners Ashwath Rau, Anu Tiwari and Vipul Jain along wth Senior Associates Aditya Alok, Tanya Pahwa, Apeksha Mattoo, Malaveeka Chakravarthy and Gaurav Bansal.
Dua Associates advised CRIDS and the team was led by Bangalore Partner Srinivas BR with Manager Siddharth Suresh and Associate Nitin Raghu.
Image credit: Deccan Herald