Billionaire Sachin Bansal is returning to an executive role, more than a year after he left e-commerce company Flipkart.
Bansal has picked up a majority stake in Chaitanya Rural Intermediation Development Services (CRIDS), a company which runs microfinance institution Chaitanya India Fin Credit (CIFCPL). He will be CRIDS's new chief executive officer (CEO), said a statement by his communications manager.
Bansal invested Rs 739 crore, roughly $104 million, in CRIDS: Rs 600 as primary infusion and the rest in buying out existing shareholders. His exact stake in the company is undisclosed.
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