Page 3 - Softbank Group

OYO withdraws DRHP, to refile its much-awaited IPO post refinancing

Softbank-backed OYO is set to refile its much-awaited IPO as the global travel tech player is close to finalising its refinancing plans to raise up to USD 450 million via sale of dollar bonds, sources said. JP Morgan is the likely lead banker for the refinancing through the sale of dollar bonds at an estimated interest rate of 9 to 10 per cent per annum, a source said. In preparation for the refinancing, OYO has already moved its application with markets regulator SEBI to withdraw its current draft red herring prospectus (DRHP). The company intends to refile an updated version of the DRHP, after the bond issuance. Oravel Stays Ltd, OYO's parent company, had in November prepaid a significant chunk of its debt amounting to Rs 1,620 crore through a buyback process. The buyback involved repurchasing 30 per cent of its outstanding Term Loan B of USD 660 million. The move brought down its outstanding loan amount to around USD 450 million. A source closely involved in the company's IPO .

SoftBank's Q4 profit hits $2.11 bn in sign of comeback gaining steam

Monday's result marks the second straight quarter of profit for SoftBank, although for the full year the company remained in the red

SoftBank Group's Arm Holdings plans to launch AI chips in 2025: Report

Arm will pay for initial development costs, which may go up hundreds of billions of yen, with SoftBank also contributing, the report said

SoftBank Group seen returning to loss in Q4 despite tech stock strength

Analysts and investors are also eagerly awaiting clues about new growth investments as SoftBank has ample liquidity and can monetise its huge holding in Arm

SoftBank heads $1 billion funding for UK self-driving startup Wayve

The latest funding brings Wayve's total funds raised to just over $1.3 billion and marks the largest investment yet in a British startup focused on artificial-intelligence technology

Microsoft backed OpenAI bids for Japan business as it opens Tokyo office

Japan hopes to take advantage of AI as it looks to compete with an increasingly assertive China, accelerate the shift to digital services and alleviate deepening labour shortages

SoftBank arm SVF India pares 2.17% stake in One 97 Communications

SoftBank arm SVF India Holdings has trimmed its holding in One 97 Communications by 2.17 per cent through the sale of 13.7 million shares in the open market over the past almost one month, according to a statutory filing on Thursday. With this, SoftBank affiliate SVF India Holdings (Cayman) has now a 2.83 per cent stake in the fintech company. "SVF India Holdings (Cayman) Ltd has disposed of an aggregate of 13,784,787 equity shares of One 97 Communications Ltd in a series of disposals undertaken between January 23, 2024, and February 26, 2024, with the disposal on February 26, 2024, beaching the 2 per cent threshold specified in...SEBI Takeover Regulation," One 97 Communications, which own the digital payment app Paytm, said in a BSE filing. It mentioned "open market" as a mode of sale. Japan's SoftBank has been paring its holding in the company over the past quarters. Notably, the latest sale comes at a time when One 97 Communications' associate entity Paytm Payments Bank Limited

SoftBank Group sells another 2% stake in crisis-hit Paytm to under 3%

The Japanese conglomerate held a 17.5% stake in Paytm in September 2022. Since then, it has trimmed its ownership through multiple open market deals

After a dry spell, SoftBank rides the AI wave to power India story

After a year of quiet, Japanese investor returns to investing with $75-125 million AI push

SoftBank founder Masayoshi Son seeks to build a $100 bn AI chip venture

Son has been unwavering in his enthusiasm for AGI. In October, he told a large group of Japanese enterprise clients to adopt AI or get left behind

Japan's Softbank's vision fund swaps splashy bets for 'timid' investing

Vision Fund II, which was launched in 2019, relies entirely on SoftBank money, a pool of capital that's expanded tremendously in the past week thanks to the company's majority ownership of Arm Holding

SoftBank results: First profit in 5 quarters with $6.6 bn net income

Net profit totalled 985.5 billion yen ($6.6 billion) in the three months to December, versus a 744.7 billion yen loss in the same period a year earlier

SoftBank-backed Meesho unveils Valmo to enable low-cost deliveries

Valmo would partner with fulfilment centres across the country. This way, it aims to create a national logistics solution by eliminating entry barriers for local players

Swiggy revenue jumps 45% to Rs 8,625 cr in FY23, loss widens to Rs 4,179 cr

The SoftBank-backed food delivery firm's financial performance comes at a time when Swiggy is eyeing an up to $1 billion domestic initial public offering (IPO) this year

US-based Fidelity cuts SoftBank-backed Meesho's valuation to $3.5 bn

This is a decline of about 29 per cent from the SoftBank-backed company's peak valuation of $4.9 billion

SoftBank entity sells 2% stake worth Rs 950 crore in Paytm parent

After selling a 2 per cent stake in the fintech company, SoftBank's total shareholding has come down to 5.06 per cent. The company held a 13.24 per cent stake in February 2023

SoftBank fully exits Policybazaar parent, collects $650 mn in returns

SoftBank had invested about $200 million in PB Fintech. In Dec 2023, Softbank's arm SVF Python II (Cayman) divested a 2.5 per cent stake in Policybazaar's parent firm PB Fintech for Rs 914 crore

SoftBank to resume investing in Indian startups after 18-month hiatus

SoftBank is now actively pursuing investments in new-age enterprises and expanding its portfolio in India

SoftBank veteran Arora becomes a billionaire after another huge payday

Palo Alto Networks handed Arora a $125 million stock and options compensation package when he was hired in 2018

Firstcry's parent firm Brainbees Solutions files papers to go public

Firstcry IPO: Brainbees Solutions will sell shares worth Rs 1,816 crore and existing investors, including SoftBank, will sell up to 54.4 million shares