OYO's move to launch the IPO after the September quarter is mainly driven by the expectation of improvement in its financial performance and the current volatile nature of the market, they said.
The Japanese group's losses were deepened by the many shares it holds in Chinese ride-hailing giant Didi Chuxing and e-commerce group Alibaba, which have been hit by a crackdown by Beijing.
Edtech unicorn Unacademy, which recently launched an experience centre- Unacademy Store, has laid off nearly 600 employees, almost 10% of its workforce.
With an aim to onboard more sellers, the internet commerce platform is also investing in making the seller app and all of the tools in 10-12 different languages.
According to a person aware of the development, there will be no change in investment made by Softbank in Paytm and Policy Bazaar.
Softbank managing partner Munish Verma is currently a board member in both Paytm and Policy Bazaar who will step down from the position within a couple of days.
As per an August 2021 report, Tatas were looking to raise up to USD 5 billion as they go about building a 'super app' which will help it compete with the likes of Amazon and Reliance Jio.
The company plans to use the proceeds to further strengthen its product portfolio and expedite its efforts towards product innovation, customer experience, hiring talent and scaling companies.
The Softbank-funded firm is in talks to raise over USD 1 billion in funding through a mix of equity and debt over the next few months as it prepares to launch its IPO next year.
Outlining SoftBank's commitment to India, Son said this year alone, the group has invested USD 3 billion in the country.
The development indicates strong investor interest in the edtech space that has gained immensely from rapid digital adoption, especially during the pandemic.
Over the last 18 months, the valuation of the Unacademy Group has risen almost 10X, one of the fastest growth rates witnessed by a mid-stage consumer internet startup in India, the statement said.
Walmart warned that it expects the deal to hit its fiscal 2019 earnings per share by 25 cents to 30 cents, if the deal closes as expected before the end of the second quarter.
Sources said all major investors in Flipkart, including SoftBank of Japan, are more or less on board with Walmart's purchase and the deal could be announced in the coming days.
SoftBank, through SoftBank Vision Fund, is in discussions with Flipkart to invest between USD 1.5-2 billion, according to industry sources.