Sachin Bansal, the founder of Flipkart in compliance with his friend Ankit Agarwal has commenced a business enterprise. The name of the business is BAC Acquisitions private limited. It has been come into existence as on the date of December 10, 2018.
As the name speaks this company runs on the model of Private Company and ownership rules & regulations laid down by the Indian Companies Act. The company has got approval as per the guidelines of Registrar of Companies (RoC). Despite the commencement of the company has been done, there is no such statement by the team of BAC or the owners about the nature of the enterprise. So, that is something that we do not know by now but since it has been started by Mr. Sanchin Bansal there is no doubt about the potential of the entity.
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Flipkart was acquired by Walmart for $16 billion earlier in this year. So, this is where the first successful exit of Sanjay’s startup is marked. The fact that there were several rumors going on about the topic that sanjay was forced to sell his share of Flipkart, makes this whole situation whole lot exciting. Sachin was the co-founder and Executive chairman of Flipkart which he left by selling his 5.5% share of the business which was reported to be amounting nearly between $0.85 - $1 billion dollars. Yeah this guy is a billionaire and with his talent and hard work he is gaining a better place in the business world with every passing day.
Now, as for BAC Acquisitions Private Limited, the company has started up with an authorized capital of INR1 crore. Also, the company has a Paid-up capital share which amounts the same as of authorized capital of the company which is INR 1 crore. Since we do not know much about the nature of the company itself there are too many mysteries in the market. Many critic theories are also revolving around in the Indian Capital market and the theories state some relevant facts so it seems like this company will be a Holding company and will deal in things as the other companies of this nature does.
BAC Acquisitions private Limited has been incorporated on 10th of December, 2018 and the location of its root branch is said to be Bengaluru according to the records of Registrar of Companies (RoC). The company will work as a holding organization. So, basically the work of BAC Acquisitions Private Limited will be to own the outstanding stock of other companies and organizations who will pay them the amount and other fees on behalf of this. Further on its purpose will be to own shares of the other firms and companies which all in all will be done to form a corporate group. The investments made will be classified into things such as bonds, stocks, mutual funds, gold, silver, real estate, patents, art etc. So, they will help other companies to get a paid up capital reach on to a prescribed limit or as per their need be.
The other founder of this business, Mr. Binny Bansal, has started a new venture with the name of XTo10X Technologies with one of his friends, Saikiran Krishnamurthy, which is also in its pre growth stage so both of the BIgB’s of entrepreneurship are on the front pages to make the Indian Ecosystem of Business great again with some amazing ventures heading straight into the market.
Despite the major setback that we got from the news of Walmart taking over FlipKart, these ventures are something that brings the Indian Stock market back into the spotlight and that too in a great positive manner. Apart from this great venture, Sachin Bansal is also known to be testing out some other ventures and he has founded to be making investments in companies like electric bike maker Ather energy and cab company Ola Cabs. So, we have entered into a new era of domains that will leave great impact on the India and international market.