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Exclusive: Ashneer Grover demands Rs 4,000 crore to leave BharatPe

Alvarez & Marsal and PwC are conducting a governance audit of BharatPe, examining allegations of fraudulent and related party transactions

February 05, 2022 / 09:36 AM IST

BharatPe cofounder Ashneer Grover is demanding Rs 4,000 crore from investors to buy out his stake if they want him to exit the company, as he digs his heels in despite being accused of fraud, abrasive behaviour and corporate governance issues leading to an investigation.

While Grover denies all accusations, he will leave the company only if an investor buys out his 9.5% stake in the company at a valuation of $6 billion, he told Moneycontrol in an interview.

“What have I done to resign? This is like execution before trial. I am the MD (managing director).  I run the company. If the board thinks I don’t need to be the MD and someone else should run the company, please put my Rs 4,000 crore on the table and take the key away from me,” Grover said.

“If you want to buy me out you want to buy me out at the fair market value, right? In my view the fair market value is $6 billion. Either I’ll run the company or they buy me out, there is no third option,” he added.