“If we get the right companies, we can invest $5 billion to $10 billion” 2022,” Mishra said at the Bloomberg India Economic Forum on Thursday. “If we find the right opportunities at the right valuations.”
So far, investments in India have not disappointed the Japanese giant with its portfolio of startups in the country, which sit on top of massive gains in valuations. SoftBank is planning to increase stake in India – it has invested $3 billion in 2021 – just as global firms become more wary of betting in China, which has hurt deals across multiple industries.
India has been a bright spot for SoftBank, reported Vision Fund
Record loss of 825.1 billion yen ($7.2 billion) for the quarter ended September, on the decline in the value of public holdings such as Korean e-commerce giant Coupang Inc. and 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, prior to its acquisition by Walmart Inc.
SoftBank has also invested in digital payments pioneer Paytm, which is
Poised to raise $2.5 billion in its initial public offering, OYO Hotels & Homes, also backed by SoftBank,
Filed preliminary documents for an 84.3 billion rupees ($1.1 billion) initial public offering in October,
India’s tech ecosystem is moving forward and SoftBank’s patience will be “rewarded”, Mishra said. “It’s India time.”