Former cofounder of Flipkart Sachin Bansal has received SEBI’s go ahead to complete the acquisition of Essel Finance Mutual Fund, said two sources familiar with the development.
With this Essel MF is expected to be renamed as Navi.
Sources privy to the development told Cafemutual that the fund house was valued at Rs.30 crore. As on September 2020, the fund house had assets of Rs.686 crore.
Angel investor Ankit Agarwal who works with Sachin Bansal had reportedly initiated this deal. Agarwal was earlier a director at Bank of America.
