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Bond Market News
SoftBank in Talks with Tatas, Mahindra for Investment
March 15, 2022
Japanese conglomerate SoftBank has shown potential investment interest in India’s significant business houses Tata and Mahindra groups. Rajeev Misra, CEO of SoftBank Investment Advisers, the managers of SoftBank Vision Fund said “The discussions have been going for six months. These groups have deeper offline business reach and popular brands so they don’t have to spend much on customer acquisitions.” Tata group is looking for global investors such as sovereign and pension funds for their new-age digital businesses. SoftBank, India’s biggest foreign investor for Indian start-ups, has previously invested in Flipkart, Paytm, Policybazar, Unacademy, Oyo, and Grofers. In 2021, SoftBank invested $3bn in India.
SoftBank’s dollar bonds were trading weaker with its 6.875% Perp was down 1.1 points to 95.5, yielding 7.92%.
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