Sachin Bansal, Co-Founder of Flipkart, has invested Rs 150 crore in Ola, India’s largest cab-hailing platform. As part of the latest round, Bansal has bought 70,588 preference shares at a price of Rs 21,250 a share. The investment will value Ola at $5.7 billion.
The same round has also seen participation from Hong Kong-based hedge fund Steadview Capital, who invested around $74 million.
In October 2017, Ola had raised $1.1 billion in a round that was led by China's Tencent Holdings. Softbank, the existing investor of the company, also participated in this round. It valued the company at $3.5-4 billion.