Binny Bansal, an Indian billionaire, entrepreneur and co founder of the e-commerce website Flipkart, sold $ 76.4 million worth of his shares in Flipkart to Walmart’s Luxembourg entity FIT Holdings SARL.
Binny Bansal, along with his partner Sachin Bansal, co founded the Flipkart and served as its Chief Executive Officer until January 2016.
Walmart, a multinational retail corporation, bought Flipkart in 2018 and back then, Bansal sold a small portion of his shares and held 3.85 % of stake.
Now, according to the documents filed by Flipkart with the regulators, Binny Bansal transferred 539,912 equity shares to FIT Holdings SARL. These shares are valued to be $ 76.4 million (approximately Rs. 531 crores.) This latest deal left him with only 3.52 % stake in Flipkart.
Vivek Durai, the founder of Paper.vc, a business intelligence platform, said, “With this transfer, Binny Bansal has monetised a small portion of his shareholdings. He had sold 1,122,433 shares for about $ 159 million during the Walmart takeover.”
According to his contract with Walmart, Binny Bansal is entitled to sell more than half of his shares to Walmart by August 2020 and he could gain around $ 400 million from this transaction.
Bansal, who is mostly based in Singapore, is now an investor in India’s startup ecosystem and is also the co founder of xto10X Technologies, which was launched last year.
In December 2018, Binny Bansal invested a sprawling $ 25 million dollars in the online insurance startup Acko. He also invested in several AI and healthtech startups.
Hyderabad-based startup Harvesting Robotics has won hearts online by appointing a golden retriever named Denver as its Chief Happiness Officer (CHO). Denver, introduced by co-founder Rahul Arepaka in a viral LinkedIn post, has quickly become the star of the office, spreading joy and boosting morale among employees. The company is now officially pet-friendly, a move Arepaka calls their “best decision.”
Denver’s new role has sparked widespread attention, with thousands liking and commenting on the announcement. Many see Denver’s presence as more than just a cute story—it highlights a growing trend of pet-friendly workplaces that prioritize employee well-being and happiness. As companies increasingly focus on holistic wellness, Denver’s appointment shows that sometimes, a wagging tail is the best way to brighten the workday.
Info Edge (India) Ltd shareholders have overwhelmingly approved an investment of up to ₹1,000 crore in the company’s third venture capital fund, Info Edge Ventures Fund III. The proposal received near-unanimous backing, with 99.9995% of valid votes in favor out of 1,274 participants.
Smartweb Internet Services Ltd, a wholly owned Info Edge subsidiary, will act as sponsor and investment manager for the new fund. This move strengthens Info Edge’s commitment to backing early-stage startups and expanding its footprint in India’s venture capital landscape.
Info Edge has a strong track record as an early investor in leading Indian startups like Zomato and PB Fintech, with combined holdings in these firms valued at ₹31,500 crore ($3.7 billion) as of March 31, 2025.
PayU India, owned by Prosus, has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator, a year after getting in-principle approval in April 2024. This authorization allows PayU to onboard new merchants and offer digital payment solutions, joining other major players like Razorpay, CCAvenue, and BillDesk.
The RBI’s nod comes as PayU prepares for its planned IPO in the second half of 2025, following a delay from its original 2024 timeline due to market conditions. The company, which serves over 450,000 merchants, reported $319 million in revenue from its core payments and credit business in the first half of FY25.
PayU stated that the approval will help it build a resilient, compliant, and innovation-driven institution, supporting merchants of all sizes and advancing the Digital India vision. The company has also strengthened its risk management and expanded its presence in real-time payments through a strategic stake in Mindgate Solutions.