Earlier in February last year, SoftBank held a 13.24% stake in fintech major Paytm and has continued to dilute its stake through the course of last year. After the latest sale, SoftBank now holds a 5.06% stake in One 97 Communications, the parent entity that operates the Paytm brand.
Food delivery platform Zomato has seen large sovereign investors from jurisdictions such as Kuwait and Singapore raising their stakes in the company. While Kuwait Investment Authority bought 88 million shares in Zomato in the September quarter, Singapore government bought 95 million shares in the company in the December quarter.
With Indias warehousing industry warming up to the idea of big-ticket investments in automation technologies, it provides tremendous opportunities for startups that manufacture products locally and cater to specific customer needs. While they enjoy a distinct cost advantage, there are many challenges to overcome.
SoftBank had invested close to $200 million in PB Fintech and sold its remaining stake in a mid-December transaction for about Rs 914 crore (or $109 million).