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SoftBank’s $118 Billion Arm Problem

Livemint

Livemint · 1y ago

SoftBank’s $118 Billion Arm Problem

Japanese technology investor, SoftBank, holds a 90% stake in chip designer Arm, positioning itself well in the AI market. However, monetizing their stake could prove challenging, mainly due to the small public float causing volatility and limited selling options. The value of SoftBank's stake in Arm currently exceeds its own market value. Options to cash out include using the Arm stake as collateral or engaging in prepaid forward contracts. SoftBank's handling of previous holdings, such as Alibaba, offer glimpses into their potential strategies.

Related News

Fair value of SoftBank’s India investment across Vision Funds up 9% at $14 billion

Economic Times

Economic Times · 1y ago

Fair value of SoftBank’s India investment across Vision Funds up 9% at $14 billion

SoftBank's India investment portfolio, including Vision Fund I and II, has a fair value of nearly $14 billion, a 9% increase as of December 2023. Flipkart is among its top 15 most valued companies. SoftBank achieved a net profit of over $6 billion for the quarter ending in December. SoftBank is bullish about the Indian market and expects IPOs from portfolio companies such as FirstCry and Ola Electric. Venture funding dropped by 60% in 2023, although SoftBank's portfolio companies raised $8 billion in fresh capital. Investment activity is expected to pick up in 2024.

India Plans To Take DPIs To 50 Nations In Next 5 Years: Nilekani

Inc42 · 11m ago

India Plans To Take DPIs To 50 Nations In Next 5 Years: Nilekani

Nandan Nilekani mentioned that India's Digital Public Infrastructures (DPIs) have been implemented in 15 countries. He emphasized that the startup ecosystem leveraging these DPIs is valued at over $100 billion. Between 2014 and H1 2024, Indian startups have secured more than $150 million in funding, resulting in the emergence of 118 unicorns within the country.

Unicorn Club Of 2024: 6 Startups Crossed $1 Bn Valuation Mark

Inc42 · 8m ago

Unicorn Club Of 2024: 6 Startups Crossed $1 Bn Valuation Mark

India's unicorn count has reached 118 with the addition of six new startups in 2024. These startups, including Perfios and RateGain, have collectively raised over $100 billion in funding. MoneyView was the only fintech company to join the unicorn club this year. The majority of the new unicorns are based in Bengaluru, the country's leading startup hub.

SoftBank's Arm to ask for $47 to $51 per share in IPO

Economic Times

Economic Times · 1y ago

SoftBank's Arm to ask for $47 to $51 per share in IPO

The price range, which has not been previously reported, would translate into a valuation for Arm of roughly between $50 billion and $54 billion, and an offering of $5 billion to $5.4 billion. It would make Arm the most valuable company to list in New York since electric car maker Rivian Automotive debuted in 2021.

SoftBank books another quarterly loss, as investment hits offset Arm

Economic Times

Economic Times · 1y ago

SoftBank books another quarterly loss, as investment hits offset Arm

SoftBank Group reported a loss of 789 billion yen ($5.22 billion) for its latest quarter, marking its fourth consecutive quarter in the red. The loss was attributed to write-downs of some investments and the weakened yen, which increased the cost of its dollar-denominated debt. While SoftBank successfully launched an IPO for chip designer Arm, the proceeds were not counted as earnings since Arm remains a subsidiary. The Vision Fund investment unit recorded a profit of 21.4 billion yen, but excluding gains from Arm, the Vision Funds collectively lost 583 billion yen.

SoftBank’s Sumer Juneja joins Oyo board as non-executive director

Entrackr

Entrackr · 1y ago

SoftBank’s Sumer Juneja joins Oyo board as non-executive director

Hospitality major Oyo has officially appointed Sumer Juneja as a non-executive director. The development comes a month after he joined the firm’s board as additional director, representing SoftBank. The board at Oyo has passed a resolution to appoint Juneja as a non-executive director, the firm’s regulatory filing sourced from the Registrar of Companies (RoC) shows. Juneja is managing director of EMEA & India at SoftBank’s investment advisors. He sits on multiple companies’ boards on behalf of SoftBank including Lenskart, Swiggy, Eruditus and Unacademy. Prior to SoftBank, Juneja was a partner at Norwest Venture and a member of Goldman Sachs Asia special situations group. The IPO-bound company recently closed its $175 million Series G round led by Patient Capital — an entity run by Oyo’s Ritesh Agarwal in Singapore — at a post-money valuation of $2.4 billion. Oyo’s valuation declined 70% from its peak valuation of $9.6 billion in August 2021, when the firm raised $5 million from Microsoft. The hospitality firm made a turnaround in business by churning profit of Rs 230 crore with an operating revenue of Rs 5,389 crore in FY24. For background, the firm bore a loss of Rs 1,286 crore in FY23. Recently, Oyo said that it will refile the IPO papers after concluding a large funding round. In May, it withdrew its draft papers (DRHP) for the second time in the wake of unfavorable conditions. For a better experience in the budget hotel segment, Oyo has been working to get more control on operations of its partners. As per sources, the Gurugram-based company is looking after the services such as laundry and room service. The company also got into luxury accommodation with the brand name ‘Sunday’ which currently operates in three cities —Jaipur, Chandigarh and Ahmedabad. Sunday Hotel is a joint venture between Oyo’ parent company and its largest backer SoftBank. Sunday Hotel plans to open 25 properties in India by the end of FY25.

ETtech Exclusive | India most successful IPO market in the world for 2024: SoftBank’s Alex Clavel

Economic Times

Economic Times · 10m ago

ETtech Exclusive | India most successful IPO market in the world for 2024: SoftBank’s Alex Clavel

India is considered the most successful IPO market in 2024, according to SoftBank Investment Advisers co-chief executive Alex Clavel. He attributes this success to the development of India's capital markets and progressive market regulations that have increased domestic liquidity. SoftBank portfolio firms like FirstCry, Ola Electric, and Unicommerce have recently gone public, with more IPOs, including Swiggy's $1.25 billion offering, lined up. In contrast, the US public markets have been relatively stagnant. SoftBank has invested $11 billion in the Indian digital economy and sees plenty of entrepreneurial opportunities in the country.

SoftBank's Arm aims for over $52 billion valuation in biggest US IPO of the year

Economic Times

Economic Times · 1y ago

SoftBank's Arm aims for over $52 billion valuation in biggest US IPO of the year

Arm, the chip designer owned by SoftBank Group, is aiming for a valuation of over $52 billion in its initial public offering (IPO). SoftBank is offering 95.5 million American depository shares of Arm for $47 to $51 each, with the goal of raising up to $4.87 billion at the upper end of the range. Arm's return to the public markets is expected to boost the IPO market and inspire other tech startups to go public, signaling renewed investor appetite for high-growth tech companies. SoftBank's recent acquisition of Arm valued the company at $64 billion.

Arm signs up big tech firms for IPO at $50 billion-$55 billion valuation

Economic Times

Economic Times · 1y ago

Arm signs up big tech firms for IPO at $50 billion-$55 billion valuation

Several major technology companies, including Apple, Nvidia, Alphabet, AMD, Intel, Samsung, Cadence, and Synopsys, are reportedly investing in Arm Holdings' initial public offering (IPO), which aims to achieve a valuation between $50 billion and $55 billion. SoftBank-owned Arm has reserved 10% of IPO shares for its clients. However, Amazon has opted not to participate. The strategic investments aim to strengthen ties with Arm and protect against potential rivals gaining an advantage in the semiconductor industry.

FTX files amended reorganization plan, expects $14.5 billion-$16.3 billion for distribution

Economic Times

Economic Times · 1y ago

FTX files amended reorganization plan, expects $14.5 billion-$16.3 billion for distribution

FTX, a crypto exchange, plans to pay its creditors and customers between $14.5 billion and $16.3 billion, according to an amended reorganization plan filed in a US bankruptcy court. The amount includes assets from various sources, such as investments owned by Alameda Research and litigation claims. The plan also proposes a convenience class for creditors with claims of $50,000 or lower, ensuring they receive approximately 118% of their claims within two months. FTX made headlines in November 2022 when it filed for bankruptcy, leaving millions of customers and investors with significant losses.

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