As per Chief Executive Officer of SoftBank Investment Advisers, SoftBank Group Corp. may invest $5 billion to $10 billion in India next year if it finds valuations attractive.
“If we find the right companies, we could invest $5 billion to $10 billion in 2022,” Misra said on Thursday at the Bloomberg India Economic Forum. “If we find the right opportunities at the right valuation.”
Untill now, the Japanese giant is satisfied with the portfolio of Indian startups in the country sitting atop sizable gains in valuations. SoftBank is planning to raise the stakes in India -- having invested $3 billion in 2021 -- just as global firms grow more wary of bets in China with tighter regulations across a number of industries hurting deals there.
India has been a bright spot for SoftBank, whose Vision Fund reported a record loss of 825.1 billion yen ($7.2 billion) for the quarter ended in September, on the decline in value of public holdings such as the Korean e-commerce giant Coupang Inc. and the Chinese ride-hailing giant Didi Global Inc. The Japanese company invested early in the Indian market, taking a stake in ride-hailing giant Ola and e-commerce leader Flipkart, before its acquisition by Walmart Inc.
SoftBank poured in online payment app Paytm, which is poised to raise $2.5 billion in its initial public offering. SoftBank also backed Oyo Hotels & Homes which filed preliminary documents for an Rs 84.3 billion ($1.1 billion) initial public offering in October.
India’s tech ecosystem is taking off and SoftBank’s patience will be “rewarded,” Misra said. “It is India’s time.”
