As the talks between Flipkart and Snapdeal are underway, Kalaari Capital‘s Vani Kola has quietly resigned from the board of Snapdeal. According to a report in Mint, Vani Kola submitted her resignation on May 2nd and asked the board to discharge her from her duties on an immediate basis.
The resignation from Kalaari’s MD is being seen as a sign of principal agreement among the investors of Snapdeal. Softbank, being the leading investor has been proposing Snapdeal’s sale to Flipkart and according to the sources, the deal size will be ₹6,000 crores and it will be an all-stock deal. Post exit, founders of Snapdeal will get ₹200 crores ($30 million) each.
Talks between Flipkart and Snapdeal are in last phase and Softbank has been leading the negotiations. Along with Snapdeal’s sale to Flipkart, Softbank might sell Freecharge to Paytm. Any estimate for which has not come out yet.