Trell in final stages of selling stake in AppsForBharat in $8-9 mn deal

Social commerce platform Trell is at the final stages of selling its minority shareholding of around 10 per cent in AppsForBharat to Mirae Asset Management and MSA Novo for $8-9 million, according to sources close to the development.

Apps For Bharat is a spiritual content platform founded by Prashant Sachan, one of the co-founders of Trell, who left the social commerce company at the end of 2020 to work on the new start-up. Several reports have alleged that an audit by EY has found related party transactions between the two companies, among other financial irregularities such as inflation of sales figures.

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