SoftBank's Swiggy order leaves it richer by $500 million
In April 2021, the SoftBank Vision Fund acquired about an 8% stake in the company at a valuation of $5 billion. However, despite a broader sell-off, the stock of the food-delivery firm rallied 17% from the offer price of ₹390, valuing the company at $12.1 billion. That translates to a gain of nearly $500 million for SoftBank in three years. The rupee has depreciated almost 12% against the US dollar since April 2021.
In April 2021, the SoftBank Vision Fund acquired about an 8% stake in the company at a valuation of $5 billion. However, despite a broader sell-off, the stock of the food-delivery firm rallied 17% from the offer price of ₹390, valuing the company at $12.1 billion. That translates to a gain of nearly $500 million for SoftBank in three years. The rupee has depreciated almost 12% against the US dollar since April 2021.
What's Your Reaction?
FEDA-HQ
The Federation of Economic Development Association of India (F.E.D.A) holds the distinction of being India's most venerable umbrella organization. F.E.D.A focused on promoting economic growth in India. Economic development professionals throughout the state, along with individuals and companies in related economic development fields, work together with the F.E.D.A Members and Board of Federation to help positively influence country legislation and industrial growth. With cutting edge policy research and advisory to National and State governments on trade issues. F.E.D.A is one of the leading non-profit organizations with established credentials for enhancing economic development.
