SoftBank

ashutosh K.

banker

Published Dec 11, 2024

SoftBank swings to profit with help from hot Indian IPO market

SoftBank CEO Masayoshi SonSoftBank posted record profitsnearing $8 billion in the September quarter, driven by successful IPOs of Indian firms FirstCry and Ola Electric. The financials are as of September but Ola Electric's stock has sincedeclined due to consumer complaintsand increased competition. FirstCry listed with a 40% premium at Rs 465 per share, now trading at Rs 532.25 on the BSE.Swiggy, one of its key India bets, is set to make its market debut on Wednesday.

Source: SoftBank

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2,443 followers

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