Investments

SoftBank sweats as Ola Electric, FirstCry, and Unicommerce go public amid market jitters

Nikhil Patwardhan

August 09, 2024 | 7 Min Read

SoftBank exited three of its public portfolio companies this year with little to show for it. The Japanese investor now has its eyes set on three more companies going public in the coming days. Will these listings have a happier ending for the Japanese investor?

Public market investors have had a whirlwind week. On Monday, benchmark indices plunged 2.7% in tandem with a global downturn fueled by fears of a recession. Meanwhile, the IPO market is heating up with three new tech companies—Ola Electric, FirstCry, and Unicommerce—making their public debut. Ola Electric’s IPO, in fact, is the largest public listing so far this year.

These IPOs are not only under the microscope of public market investors but are also being keenly watched by India's startup ecosystem. As the second batch of billion-dollar startups to test the public market, their performance will be a significant measuring stick for the startup world.

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