SoftBank’s Sumer Juneja spoke to us on listing gains snagged by their portfolio firms, fresh deals and more. Details on this in today’s ETtech Morning Dispatch. Also in this letter: ■ Nykaa, Awfis Q1 results ■ IT deals revival ■ ETtech Done Deals SoftBank’s Sumer Juneja on IPO gains, new bets and more The listing pop seen by Ola Electric, FirstCry, and Unicommerce was driven by sensible IPO pricing , favourable macroeconomic conditions and the growing acceptance of technology firms by the capital markets, Sumer Juneja, managing partner for India & EMEA at SoftBank, told us in an interview on Tuesday.
On India performance: “The portfolio has performed well, and with the current market value of our public investment and past exits, we would have returned $10 billion-plus with a strong portfolio (Meesho, Swiggy, Lenskart, Whatfix, OfBusiness) yet to be monetised,” Juneja added. Profitability in focus: Juneja said, “If you have a credible story and can back it up with a path to profitability, then the public markets are patient, as seen with Zomato and Ola Electric.” “There is room for all kinds of tech firms to go public in India, you can be the size of Ola Electric or Unicommerce.
.. the market depth has increased a lot in the last few years,” he added.
SoftBank’s bets: Post-listing gains clocked by Ola Electric, FirstCry, and Unicommerce have boosted the worth of SoftBank’s stakes in these companies to almost Rs 16,000 crore , or nearly $2 billion, b.