BENGALURU/TOKYO -- SoftBank Group finds itself in position to reap a windfall from India's first wave of startup IPOs, which began in July and will roll on through early next year. When the numbers settle, they could show a significant turnaround for one of the world's most prolific technology investors, which struggled with its early bets in the country.
The Tokyo-headquartered company, whose two Vision Funds have invested approximately $11 billion in Indian startups, is likely to clock at least $7 billion in notional gains from the public listings of financial services companies One97 Communications, known as Paytm, and PB Fintech, known as PolicyBazaar; logistics startup Delhivery; and hospitality company Oravel Stays, known as Oyo; according to estimates by Tracxn, a startup data tracker.
