Rajeev Misra, CEO of SB Investment Advisers, which oversees the SoftBank Vision Fund, said in an interview at the ET Global Business Summit that Japan’s SoftBank had interacted with Indian conglomerates Tata group and Mahindras for a potential investment.
He stated the talks had been going on for six months. As ET has reported, Tatas has been in talks with foreign investors, including several sovereign and pension money managers, to support its digital venture.
Misra also discussed the rebalancing of private tech valuations in the context of a larger market downturn and macro worries.
We’re in talks with a few conglomerates. Tata and Mahindra are two companies with incredible offline reach and branding. They don’t need to spend money on customer acquisition because they already have customers on all of their platforms. It will come down to two factors: the valuation and the management’s independence and alignment.
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