SoftBank appoints telecoms veteran as India country head

SoftBank last year made a series of investments to diversify its portfolio in India, home to one of the world’s largest and youngest populations and which is modernizing rapidly. Companies it backed included babycare retailer FirstCry, logistics start-up Delhivery and online grocery group Grofers. It ended the year with a $275m investment in Lenskart, reportedly pushing the eyewear retailer to a valuation of more than $1.5bn.

“They are boosting support on the ground as the portfolio has become significant and diverse,” said Madhur Singhal, Mumbai-based managing director of advisory firm Praxis Global Alliance. “It’s obvious you need to handhold these companies and take them to their IPO — especially when many of the companies are at the cusp of profitability.”

Featured Leader: Madhur Singhal

This article was originally published on Financial Times. Read more.

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