Sachin Bansal Acquires DHFL General Insurance For INR 100 Cr

Sachin Bansal Acquires DHFL General Insurance From WGC For $14 Mn

SUMMARY

The transaction is seen as a distress sale for Wadhawan Group Capital

Bansal had also acquired an NBFC company CRIDS last year

The Flipkart cofounder's portfolio companies include Ola, Vogo, Ather Energy and others

Flipkart cofounder and former CEO Sachin Bansal has acquired Mumbai-based insurance company DHFL General Insurance from Kapil Wadhawan-led financial services group Wadhawan Group Capital (WGC) for INR 100 Cr ($14 Mn). The deal is seen as a distress sale for WGC, which used to run the bankrupt homegrown company DHFL.

Founded in 1984, DHFL is a 100% fully owned entity of WGC. The company has been known for over three decades for offering affordable housing finance to the middle and lower-income category. The parent company WGC also owns financial services companies such as Aadhar Housing Finance, Avanse Financial Services, DHFL Pramerica Asset Managers, DHFL Pramerica Life Insurance and DHFL General Insurance.