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MarketScreener Homepage  >  Equities  >  Tokyo  >  SoftBank Group Corp    9984   JP3436100006

SOFTBANK GROUP CORP

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SoftBank leads $200 million investment in India's Grofers

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05/15/2019 | 06:01am EDT
FILE PHOTO: The SoftBank Group logo displayed at the SoftBank World 2017 conference in Tokyo

BENGALURU (Reuters) - Japan's SoftBank Group Corp has led an investment round of more than $200 million in online grocery startup Grofers India through its Vision Fund, the New Delhi-based company said on Wednesday, upping competition in a hotly chased market in the country.

Grofers' fresh funding comes after homegrown rival Bigbasket, which is backed by China's Alibaba Group, recently raised $150 million to hit a valuation of over $1 billion. Both the startups compete with the likes of Amazon.com and Walmart Inc's e-commerce unit Flipkart for various categories.

"This latest investment will help scale the company to ensure many more customers can access the best quality products at the best prices," Chief Executive Albinder Dhindsa said in a statement.

Grofers did not say what it was valued at after the funding.

Softbank's Vision Fund was set up in 2017 and is now the world's largest technology investment fund, with a portfolio that includes pioneer Uber Technologies Inc, chip designer ARM and shared workspace firm WeWork.

The Japanese firm is considering an initial public offering of its $100 billion fund, a source told Reuters earlier this month.

(Reporting by Nivedita Bhattacharjee; editing by Gopakumar Warrier)

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -1.11% 175.24 Delayed Quote.27.85%
SOFTBANK GROUP CORP -2.86% 4796 End-of-day quote.-31.53%
UBER TECHNOLOGIES INC -1.08% 34.91 Delayed Quote.0.00%
WALMART INC. -0.03% 112.02 Delayed Quote.20.26%
WORKSPACE GROUP PLC 1.58% 834.5 Delayed Quote.5.17%
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Financials (JPY)
Sales 2020 9 733 B
EBIT 2020 1 293 B
Net income 2020 1 415 B
Debt 2020 11 147 B
Yield 2020 0,76%
P/E ratio 2020 7,27x
P/E ratio 2021 15,2x
EV / Sales2020 2,17x
EV / Sales2021 2,28x
Capitalization 9 931 B
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Mean consensus BUY
Number of Analysts 17
Average target price 7 246,88  JPY
Last Close Price 4 796,00  JPY
Spread / Highest target 121%
Spread / Average Target 51,1%
Spread / Lowest Target 26,1%
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Managers
NameTitle
Masayoshi Son Chairman, President & Chief Executive Officer
Raul Marcelo Claure Chief Operating Officer & Director
Norikazu Oba Manager-Finance & Planning
Tadashi Yanai Independent Outside Director
Ken Miyauchi Representative Director & Vice President
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