SoftBank Capital

The company more than doubled its India revenue in 2022 to Rs 6,008 crore from Rs 2,776 crore in 2021

Sells 22.84 million shares, or 5.08% stake, at Rs 456.4 apiece; 30 institutional investors among buyers

Floor price set at Rs 555, 8% discount to last close

The Vision Fund segment lost 1.02 trillion yen in July-September, following a 2.33 trillion yen loss in the June quarter. Overall, the Japanese conglomerate logged net income of 3.03 trn in last qtr

The two funds together have invested over $11-12 billion in the country. Together with Softbank's direct investment, this goes up to $14 billion

The Japanese company will acquire the stake from funds affiliated with AutoStore's majority shareholder Thomas H. Lee (THL) Partners and other investors

SoftBank's shares were up 5.3% at Y9,990 at 0055 GMT having earlier shot past Y10,000, the biggest intraday jump in two months

Preliminary work on a buyout got under way after a record drop in SoftBank shares in March, but the effort was later tabled as the stock price more than doubled with asset sales

Another board member, Saurabh Jalan, who has been associated with Snapdeal for the past few years and is currently a director, would continue to be SoftBank's representative on the board