“If we find the right companies, we could invest $5 billion to $10 billion in 2022<\/a>,” Misra said on Thursday at the Bloomberg India Economic Forum. “If we find the right opportunities at the right valuation.”
So far, investments in India haven’t disappointed the Japanese giant with its portfolio of startups in the country sitting atop sizable gains in valuations. SoftBank is planning to raise the stakes in India -- having invested $3 billion in 2021 -- just as global firms grow more wary of bets in China with tighter regulations across a number of industries hurting deals there.
India has been a bright spot for SoftBank, whose Vision Fund<\/a> reported a record loss of 825.1 billion yen ($7.2 billion) for the quarter ended in September<\/a>, on the decline in value of public holdings such as the Korean e-commerce giant Coupang Inc. and the Chinese ride-hailing giant Didi Global Inc. The Japanese company invested early in the Indian market, taking a stake in ride-hailing giant Ola and e-commerce leader Flipkart, before its acquisition by Walmart Inc.
SoftBank also invested in digital payments pioneer Paytm, which is poised to raise $2.5 billion in its initial public offering<\/a>. Oyo Hotels & Homes, also backed by SoftBank, filed preliminary documents for an 84.3 billion rupee ($1.1 billion) initial public offering in October<\/a>.
India’s tech ecosystem is taking off and SoftBank’s patience will be “rewarded,” Misra said. “It is India’s time.”
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