Post-listing, SoftBank’s holdings in Ola Electric, FirstCry, Unicommerce worth an eye-popping $2 billion
Ola Electric, FirstCry and Unicommerce, which went public this month, have boosted the worth of Japanese technology investor SoftBank’s stakes in these companies to almost Rs 16,000 crore, or nearly $2 billion, based on the latest stock prices of these three companies.
SoftBank has already realised around $400 million, or around Rs 3,300 crore (at current exchange rates), from secondary stake sales in the three companies.
SoftBank had invested more than Rs 4,100 crore in FirstCry, which listed at a premium of 40% on the National Stock Exchange (NSE) Tuesday to the issue price of Rs 465 apiece.
SoftBank has already sold a stake worth around Rs 2,300 crore in the Pune-based omnichannel retailer through secondary transactions.
FirstCry’s market capitalisation stood at over Rs 35,000 crore as of Tuesday's end.
Conglomerate Mahindra & Mahindra (M&M), which is the second-biggest shareholder in FirstCry after SoftBank, sold a stake worth Rs 130 crore in the company’s offer-for-sale (OFS) component and still holds shares worth more than Rs 3,400 crore.
Similarly, Premji Invest – the family office of Wipro founder Azim Premji – divested shares worth around Rs 400 crore through the FirstCry IPO, and its remaining holding is valued at over Rs 1,000 crore as of Tuesday.
In Ola Electric, which listed on the bourses on August 9, the Japanese firm invested over Rs 2,800 crore across multiple tranches.Shares of the electric vehicle (EV) maker have surged 71% from its listing price of Rs 76, with its market capitalisation
