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Here's how much the Bansal buddies will earn from the Flipkart-Walmart deal

The executive chairman of Flipkart Sachin Bansal will likely exit completely, selling his 5.55 percent stake.

May 13, 2018 / 09:07 PM IST

Walmart announced it is buying 77 percent of Flipkart on May 9, in a deal that values the Indian e-commerce firm at a whopping $20.8 billion. The deal is the highest for any startup in India.

This means, founders of the company Sachin Bansal and Binny Bansal will take massive cheques home.

Executive Chairman of the Bengaluru-based company Sachin Bansal has decided to exit Flipkart and sell his existing 5.55 percent stake to Walmart. In the expanded equity base, his share would come down to 5.01 percent.

According to sources, the group CEO and co-founder Binny Bansal has sold a partial stake of 0.5 percent and now holds 4.24 percent of expanded equity in Flipkart.

How rich will the two become


The Walmart deal will make Sachin richer by about $1.04 billion (~Rs 7,006 crore), while Binny, by virtue of his partial exit, will take home $104 million (~Rs 700 crore).

Binny's 4.24 percent stake in the company is valued at $881 million (~Rs 5,935 crore).

What can they do with the money

To put to perspective, their individual take-home from the deal is more than the gross domestic product of 16 countries, according to World Bank 2016 data.

On a personal front, Sachin can buy 2,802 Audi R8 (@ ex-showroom-Delhi - Rs 2.55 crore) and Binny can purchase 2,654 such cars.

To park these many vehicles, Sachin and Binny could eye posh localities in Delhi.

In Lutyens' Delhi, where villas cost on average Rs 300 crore, they can afford 23 and 22 such villas, respectively.
Moneycontrol News
first published: May 9, 2018 10:03 pm