Softbank, the Japanese investment firm, which has funded a number of Indian start-ups over the years, is hoping to cash in on its shares in three firms in the first week of August as per NDTV Profit.
The investment firm will reportedly pare its shares in the IPO-bound Ola Electric, whose offer begins on August 2. Likewise, it will also sell its shares in Snapeal Group’s Unicommerce and Brainbee Solutions Ltd, the parent entity of Firstcry on August 6.
In Ola Electric, SoftBank currently holds 21.98 per cent of shares and is looking to offload it to 2.68 per cent in its upcoming IPO. With Ola Electric’s IPO, at the upper band, priced at Rs 76 per share, SoftBank will get a return that is 1.48 times its investment, as its average weighted acquisition is Rs 51.37.
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SoftBank, which reportedly holds the largest number of shares in FirstCry whose IPO Price Band stands at Rs 465 per share, is set to triple its gains from its average weighted which is Rs 154. Of the 5.43 crore shares that compose the Offer for Sale (OFS) portion, it is looking to offload 2,03 core which is about 37.35 per cent of shares.
In the Unicommerce IPO, which is solely OFS, SoftBank will offload 1.61 crore shares, which is more than the 94 lakhs shares its parent entity AceVector Ltd. is selling.
Unicommerce’s IPO upper band is stated to be Rs 108 per share, the investment firm will gain 3.5 times as the average weighted cost of acquisition per share stands at Rs 30.87.
