SoftBank founder Masayoshi Son is set to meet Prime Minister Narendra Modi in New Delhi on Wednesday during his ongoing visit to India. This meeting highlights SoftBank’s sustained interest in India, a key market for the Japanese investment giant. On Tuesday, Son held discussions with Reliance Industries chairperson Mukesh Ambani in Mumbai. He is also scheduled to engage with Indian entrepreneurs linked to SoftBank’s portfolio in the capital.
Son’s last visit to India was in March 2023, when he attended the wedding of Oyo founder Ritesh Agarwal. During that trip, he interacted with several Indian startup founders and CEOs backed by SoftBank.
This visit comes at a time when SoftBank has reported a strong financial performance, buoyed by successful Indian IPOs. For the July-September quarter, the company posted a profit of nearly $8 billion, its highest in over two years. Notable contributors to this growth were Indian portfolio firms like FirstCry and Ola Electric, which recently went public. Swiggy also launched a $1.3 billion IPO, delivering an impressive market debut. Although SoftBank holds less than 8% in Swiggy, it did not sell any shares during the listing. Additionally, firms such as OfBusiness are preparing to go public in the coming year.
In another development, Rajeev Misra, a key dealmaker for SoftBank, recently stepped down from his leadership roles at its primary investment vehicles. Alex Clavel has since taken over as the CEO of SoftBank Investment Advisers and SoftBank Global Advisers, ensuring continuity in the group’s operations.
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