SoftBank registers loss in valuation for Paytm, gains on PolicyBazaar

Japan-based SoftBank Vision 1's portfolio was eroded by $23.9 billion in the fiscal ended March 31, 2022, with a $600 million loss caused by the erosion of 2021 listed Indian fintech company Paytm's valuation. At the time of IPO (initial public offering) in November, Paytm had a market capitalisation of nearly Rs 140,000 crore, which has reduced to Rs 33,529 crore. Another SVF I portfolio company from India, insurance marketplace PolicyBazaar, which went public during the financial year alongside Paytm, saw a cumulative gain of $300 million during the fiscal according to the earnings report filed by SoftBank. The earnings report also indicated that SoftBank valued its shares in Ola Electric Mobility at $556 million and InMobi at $597 million during the transfer of the company's shares to its SoftBank Vision Fund II (SVF II) during the financial year.