SoftBank Financial News

₹940 crore, while shares were sold at ₹94 per share.Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

TOKYO (Reuters) -Japan threatened on Tuesday to take China to the World Trade Organization to seek a reversal of Beijing's ban on all of its seafood imports after the release of treated radioactive water from the stricken Fukushima Daiichi nuclear power plant.

SoftBank-backed British semiconductor and chip manufacturer Arm will start investor meetings next week, ahead of what is slated to be the year’s biggest initial public offering.

Glance, a smart lock screen platform from InMobi, is launching in Japan. It will partner with leading telecom carriers and Android smartphone brands in the country, Piyush Shah, president of Glance, told ET. Singapore-headquartered Glance has already expanded in Indonesia and is now eyeing the US market.

Tiger Global, through its affiliate Internet Fund III Pte, has exited food delivery platform Zomato by selling its entire stake via bulk deals on Monday. Under the transaction, the US hedge fund has offloaded 12.3 crore shares or 1.47% stake in the company on BSE at Rs 91.01 apiece, earning about Rs 1,123 crore. Marquee funds, including Axis Mutual Fund, Goldman Sachs, Citigroup, Morgan Stanley Asia, and Societe Generale were among the buyers in the transaction. Meanwhile, another Russia-based fund Apoletto Asia has sold 3.19 crore shares in a separate deal on NSE, according to exchange data. Earlier, it was reported that Japanese tech giant SoftBank was likely to offload Zomato shares as the lock-in for the post-Blinkit deal ended on Friday. Zomato issued fresh equity shares to all the selling shareholders of Blinkit as consideration for the M&A last year.

SoftBank Group Corp. will take a group of its Indian startup founders to Silicon Valley next month for an artificial intelligence tour as the Japanese investor steps up efforts to infuse its portfolio companies with the technology. The investor is helping portfolio companies adopt AI and has been setting up meetings for the founders it backs with the leading players in the field, said Sumer Juneja, managing partner overseeing Europe, Middle East, Africa and India investments at SoftBank’s Vision Fund, in an interview in Mumbai.

Zomato share price rallied over 5% in early morning trade on Monday amid reports of a block deal in the shares. Zomato shares jumped as much as 5.56% to a high of ₹96.00 apiece on the BSE. As per CNBC-TV18 report, around 3.2 crore Zomato shares worth ₹288 crore changed hands in the block deal window at ₹90.10 per share.

MUMBAI : Late-stage technology investor SoftBank Investment Advisers has made more than $5.5 billion in exits from its Indian portfolio since it began operations in November 2018 in Mumbai, said Sumer Juneja, the firm’s managing partner. Of the total, about $1.5 billion was booked in the last 12-18 months, said Juneja, also the firm’s head for Europe, Middle East and Africa. Another $1.5 billion is liquid and in tradable equities, he said in an interview.

Instacart on Friday said its core business turned profitable after making public its filing for a long-awaited stock market launch, while also disclosing an investment from PepsiCo Inc. San Francisco-based Instacart, which filed confidentially for its initial public offering (IPO) in May 2022, said in the filing to the U.S. Securities and Exchange Commission that PepsiCo had agreed to buy $175 million in preferred convertible stock. Norges Bank Investment Management, a division of Norges Bank, and entities affiliated with venture capital firms TCV, Sequoia Capital, D1 Capital Partners and Valiant Capital Management have agreed to participate in the IPO as cornerstone investors, Instacart said. For the six months ended June 30, Instacart's revenue came in at $1.48 billion, up 31% from the same period last year.

By Niket Nishant

(Reuters) -Klaviyo's revenue rose 51% for the recent quarter, the data and marketing automation company disclosed in its paperwork for a U.S. initial public offering (IPO) submitted on Friday.

CNBC-TV18 reported. SoftBank owns 3.35% stake in Zomato. It had received Zomato shares during the Blinkit deal for selling its holding to the company.

mortgage lender, which went public via a blank-check company merger just as mortgage rates have hit two-decade highs. Backed by SoftBank, Better completed its combination with special purpose acquisition company (SPAC) Aurora Acquisition Corp, capping a rocky deal that was first announced in 2021 but delayed amid regulatory scrutiny and layoffs at Better. The company hit the headlines in December 2021 after it laid off 900 employees via Zoom, and has since seen its profits dented as high mortgage rates have dampened demand for home loans. Aurora went public in March 2021. Shares in Better Home & Finance Holding Co, the newly merged entity, finished the session down 93.4% at $1.15. SPACs are shell companies that raise funds through a public listing with the goal of acquiring a private company and taking it public.

By Hannah Lang

By Echo Wang and Anirban Sen

WeWork is tapping advisers for restructuring advice as it struggles with a heavy debt load and poor financial performance, Bloomberg News reported on Wednesday citing people familiar with the matter. Shares of the Softbank Group-backed WeWork fell about 15% to 0.12 cents in afternoon trade. The New York Stock Exchange (NYSE) suspended trading in WeWork's warrants on Tuesday due to «abnormally low» trading price levels and said will initiate proceedings to delist them. The flexible workspace provider has hired real estate adviser Hilco Global, engaged consultant Alvarez & Marsal and re-engaged law firm Kirkland & Ellis for advice on its options, according to the report. The company is seeking to avoid a Chapter 11 bankruptcy filing and restructure its debts out of court, the report added citing a person familiar with the matter. WeWork, Hilco Global, Alvarez & Marsal and Kirkland & Ellis did not immediately respond to Reuters' requests for comment.

By Hannah Lang

ChatGPT, has pushed any stock vaguely related to AI up this year. The coming initial public offering of British chip designer Arm will put this market frenzy—and its parent SoftBank’s own AI ambitions—to the test. Riding on the AI wave, Arm, which has filed to go public on the Nasdaq exchange next month, could be the largest new listing this year.

Nasdaq futures signaled further gains in US tech shares after Monday’s rally, while the sector also outperformed in Europe and Asia. 

Arm Ltd filed for its initial public offering (IPO) in the US on Monday, in what is likely to be the biggest listing of the year. The company has not disclosed the size of the offering.SoftBank plans to sell about 10% of Arm's shares in the IPO, seeking a valuation of $60-70 billion, Reuters reported.

Also Read: SoftBank sells its stake in IPO-bound FirstCry for ₹435 crore A successful debut by Arm would provide a windfall for SoftBank founder Masayoshi Son, whose Vision Fund lost a record $30 billion last year. It could also spur dozens of startups to pursue — or further delay — their own IPO plans. That includes companies like online grocery-delivery firm Instacart Inc.