SoftBank Financial News

New Street Research analyst Pierre Ferragu said in a research note Tuesday that the reported Arm Holdings (ARM) IPO range is an «attractive valuation.»

British chip designer Arm Ltd. is targeting a valuation of more than $52 billion from what is expected to be the largest initial public offering this year, according to the company’s latest regulatory filing. SoftBank Group, Arm’s owner, plans to sell roughly 10% of the total shares outstanding, setting a share sale price of between $47 to $51 apiece.

SoftBank Group's Arm is seeking a valuation of more than $52 billion in its initial public offering as the chip designer heads for the biggest stock market flotation of the year. SoftBank is offering 95.5 million American depository shares of the Cambridge, United Kingdom-based company for $47 to $51 apiece and aims to raise up to $4.87 billion at the top of the range, a regulatory filing showed on Tuesday.

technology companies to make over 30 billion chips annually, powering 99% of the world’s smartphones and everything from the tiniest of sensors to the most powerful supercomputers.oftThis story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

SoftBank has lined up some of Arm’s biggest customers as strategic investors for the chip company’s initial public offering, including Apple, Nvidia, Intel and Samsung Electronics, according to people familiar with the situation.

IPO), ahead of its roadshow with investors next week, according to people familiar with the matter. Arm, the chip designer owned by SoftBank Group Corp, is expected to set a price range for its offering next week, the sources said. Arm plans to price its shares on Sept. 13, with stock trading on the Nasdaq to start the following day.

Apple Inc, Nvidia Corp, Alphabet Inc and Advanced Micro Devices Inc have agreed to invest in the chip designer's initial public offering, according to people familiar with the matter. Intel Corp, Samsung Electronics Co Ltd, Cadence Design Systems Inc and Synopsys Inc have also agreed to participate as investors in the offering, the sources added. The talks are ongoing and some other potential investors are also in discussions to invest in the IPO, the sources added. SoftBank Group Corp, which owns Britain-based Arm, is targeting a valuation between $50 billion and $55 billion, Reuters reported earlier on Friday.

Mint's journalists tried to take all their interactions very seriously. Many of our correspondents unsheathed the interview technique to bring us exclusive reports and analytical pieces. They're yours to judge.

SoftBank Group Corp. has lined up some of Arm Ltd.’s biggest customers as strategic investors for the chip company’s initial public offering, including Apple Inc., Nvidia Corp., Intel Corp. and Samsung Electronics Co., according to people familiar with the situation.

By Echo Wang

Qraft Technologies, a fintech firm aiming to drive growth in the asset management industry through its innovations in artificial intelligence (AI) and investing, has announced a strategic alliance with Hex Trust, a fully-licensed and insured digital asset custodian led by veteran banking technologists and award-winning financial services experts. This partnership, solidified by the signing of a Memorandum of Understanding («MoU»), will see Qraft developing digital asset products rooted in its AI-driven asset allocation models, tailored specifically for Hex Trust's clientele.

HPCL/IOL: Minister of Petroleum and Natural Gas, Hardeep Singh Puri stated on 30 August that the government would bear the cost of the promised ₹200 price decrease on household cooking gas cylinders, relieving the oil marketing companies of the impending loss of ₹7,500 crore. As a gift for the women in advance of Raksha Bandhan, the Union Cabinet on Tuesday lowered by 200 rupees the price of a 14.2 kilogramme LPG cooking gas cylinder. The decision was made as criticism of the Centre for its handling of rising inflation has grown.

HSBC has raised its price target on Zomato to ₹120 from ₹102 while retaining its buy rating, citing improved growth and profitability prospects for instant grocery delivery service arm Blinkit. The revised price target implies a return of about 20% from Wednesday's closing price of ₹99.88. HSBC has valued Blinkit at $5 billion.

The consultancy firm said that the trend lines pointed to a “sharp reset for the PE-VC landscape,” which has battled a so-called “funding winter” as risk capital inflow to India had dried up from the latter half of 2022. This downturn had followed a boom in private equity and venture capital investment witnessed in 2021 and early part of 2022 when Indian startups received a record inflow of capital. The subsequent downward trend in risk capital investments has changed in the three-month period ended June 2023, the data revealed.

₹947 crore ($114.7 million), news agency Reuters quoted exchange data. Part of Japan's SoftBank Group, the venture capital sold 100 million shares at 94.7 rupees apiece in bulk deals, the report added. According to the data from the National Stock Exchange, the firms who bought Zomato shares include International Monetary Fund, Morgan Stanley Asia Singapore, Societe Generale, Goldman Sachs (Singapore), Invesco Mutual Fund and Kotak Mahindra Life Insurance.

SoftBank sold a partial stake in food delivery platform Zomato through bulk deals on Wednesday. The transaction was done at Rs 94.7 apiece, taking the deal value to Rs 947 crore. According to exchange data, SoftBank Vision Fund has offloaded 10 crore shares or 1.17% stake in the company as the lock-in for the post-Blinkit deal ended this week.

Zomato jumped 5% to day's high of Rs 99.60 on a likely block deal in the pre-opening trade on Wednesday which saw 1.16% stake changing hands. ETNow reported at least six block deals involving 10 crore shares getting transacted. Japanese technology investor SoftBank Vision Fund is expected to have offloaded its shares in the food and grocery delivery company.

Zomato share price jumped over 5% in early trade on Wednesday after a block deal in the food delivery giant. Zomato shares rallied as much as 5.12 to ₹99.50 apiece on the BSE. Around 10 crore Zomato shares, aggregating to 1.17% stake in the company, changed hands at an average floor price of ₹94.70 apiece in a block deal on the bourses.

ZomatoAfter Tiger Global, Softbank will likely sell a partial stake in food delivery platform Zomato through block deals on Wednesday.Central Bank Of IndiaCentral Bank of India has entered into a strategic co-lending partnership with IKF Home Finance Ltd to offer MSME and home loans at competitive rates.Read more: What changed the market while you were sleepingMPS LtdMPS Interactive Systems, a wholly owned subsidiary of MPS Ltd, will acquire 65% each of Liberate Learning Pty Ltd (Australia), Liberate eLearning Pty Ltd (Australia), App-eLearn Pty Ltd (Australia), and Liberate Learning Limited (New Zealand).ONGCONGC plans to invest Rs 2 trillion ($24.17 billion) on clean energy projects in order to meet its 2038 net-zero carbon emissions goal.Anupam RasayanChemical maker Anupam Rasayan close to acquiring Austria’s ESIM Chemicals, ET Now reported.

SoftBank Vision Fund is expected to offload around 10 crore shares in food and grocery delivery company Zomato on Wednesday, representing around 1.17% stake, according to sources. The block deal is expected to be worth approximately Rs 940 crore, indicating that SoftBank will sell the shares at Rs 94 apiece. As of June 30, SoftBank Vision Fund held over 28.71 crore shares in Zomato, representing 3.35% stake.

MUMBAI : SoftBank’s Svf Growth (Singapore) Pte. Ltd is set to divest a 1.17% stake in Zomato Ltd on 30 August. The deal is expected to fetch ₹940 crore ($114 million) for the Japanese investor.