Page 5 - Softbank

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

TMS Ep636: Private capex, Softbank AI, Novelis IPO, Mumbai Metaverse

Can private capex offset govt spend curbs in FY25? Can AI help Softbank turn around in India? What does Novelis IPO mean for Hindalco investors? What is Mumbai Megapolis Metaverse? Answers here

Indian banks' rush for clients set for reckoning after Paytm fiasco

India stunned investors last month by abruptly suspending most activities of the banking affiliate of Paytm, a once high-flying fintech star that had attracted backing from Warren Buffett and SoftBank

Nvidia market rally: What's behind the US-based company's bull run?

The market data shows that the Nvidia's shares have rallied over 250 per cent in the last one year

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-backed Eruditus plans to shift to India from Singapore for IPO

India's $4 trillion stock market has been pulling in billions of dollars of domestic and foreign money as investors flock to a fast-growing alternative to China

Japan's SoftBank takes 10% hit on fintech major Paytm as rout continues

Japanese firm gradually exiting its investment since Paytm IPO

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 offloads another 2% in Paytm as fintech sees spate of selldowns

The Japanese conglomerate, which sold shares between Dec. 19 and Jan. 20, now holds a 5.06 per cent stake in the company, according to an exchange filing on Wednesday

Eruditus revenue jumps 75% in FY23; losses narrow to Rs 1,049 crore

Founded by Ashwin Damera and Chaitanya Kalipatnapu in 2010, Eruditus served 250,000 students across 80 countries in FY23

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

E-commerce firm Meesho recruits 150 during campus hiring, to take in more

Recruitments reflect 'robust road map for 2024', says Meesho, which is an e-commerce firm backed by SoftBank

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

SoftBank sells shares worth $310 mn in omnichannel retailer FirstCry

Japanese conglomerate SoftBank has sold shares worth USD 310 million in omnichannel retailer FirstCry, which is likely to file a draft paper for IPO this week, sources said on Monday. "SoftBank recently sold shares worth Rs 630 crore in FirstCry. It was picked up by a few high net worth individuals. With this sale, SoftBank has realised USD 310 million from two rounds of stake sale in FirstCry," a source told PTI. The source said that the sale values FirstCry in the range of USD 3.5-3.75 billion. SoftBank had invested USD 400 million in FirstCry at an enterprise valuation of USD 900 million. Another source said that SoftBank is still left with shares valued in the range of USD 800-900 million which it will sell later. "SoftBank is looking to make around USD 1.3 billion from the investment made in FirstCry," the source said. Email query sent to SoftBank elicited no response in this regard.

Softbank divests 2.5% stake in Policybazaar's parent firm worth Rs 914 cr

Japanese conglomerate Softbank's arm Svf Python II (Cayman) on Friday divested a 2.5 per cent stake in Policybazaar's parent firm PB Fintech for Rs 914 crore through open market transactions. HDFC Mutual Fund (MF), Mirae Asset MF, ICICI Prudential Life Insurance, Societe Generale, Capital Group, The Master Trust Bank of Japan, Government Pension Fund Global, Goldman Sachs, and China's Best Investment Corporation, among others, were the buyers of the shares. Following the share sale, shares of PB Fintech fell 2.31 per cent to close at Rs 789.45 apiece on the BSE. Svf Python II (Cayman) Ltd offloaded a total of 1,14,21,212 shares in 10 tranches, amounting to 2.54 per cent, in PB Fintech, as per the block deal data available with the BSE. The shares were sold at an average price of Rs 800.05 apiece, taking the aggregate deal value to Rs 913.75 crore. After the latest transaction, Softbank's shareholding has declined to 1.85 per cent from 4.39 per cent stake in PB Fintech. In October

Softbank-backed Meesho adds nearly 25,000 non-GST sellers in 2 months

Softbank-backed Meesho on Friday said it has onboarded nearly 25,000 non-GST sellers since October 2023. In July, the GST Council provided exemption to small businesses having turnover below Rs 40 lakh in case of goods and Rs 20 lakh in case of services from GST registration for making intra-state supplies through e-commerce platform. The rule kicked in from October 1. "Welcoming nearly 25,000 non-GST sellers onto our platform reinforces our efforts to foster an inclusive digital ecosystem. "Committed to our goal of digitising 10 million sellers by 2027, Meesho stands firm in driving innovation and embracing the government's historic decision to eliminate mandatory GST registration for small businesses selling online," Meesho CXO Business, Megha Agarwal said in a statement. Earlier this year, Meesho implemented significant technological adaptations, paving the way for non-GST sellers to commence selling on the platform from October 1, 2023. "In the last two months, non-GST sellers