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HNIs line up as SoftBank offloads stake worth $310 Mn In IPO-bound FirstCry
Inc42
·
1y ago
Medial
Japanese tech investor SoftBank has reportedly sold a portion of its stake in FirstCry, an IPO-bound ecommerce unicorn, for $310 million. The shares were acquired by several high-net-worth individuals (HNIs), valuing FirstCry at a range of $3.5 billion to $3.75 billion. SoftBank still holds shares worth $800 million to $900 million, which it plans to sell at a later date. SoftBank aims to bring its stake in the company below 26% to avoid being classified as a promoter. FirstCry is preparing to file its draft red herring prospectus (DRHP) by December 29 for an IPO, targeting a valuation of $4 billion.
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IPO-bound FirstCry's CEO Supam Maheshwari offloads shares worth Rs 300 crore: Report
Economic Times
·
1y ago
Medial
The CEO of FirstCry, Supam Maheshwari, has reportedly sold shares worth INR 300 crores ($40 million) ahead of the company's IPO. FirstCry is a leading Indian baby products retailer that is planning to go public. Maheshwari co-founded the company in 2010 and has since grown it into a unicorn startup. The IPO is expected to value FirstCry at around INR 46,000 crores ($6.2 billion).
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Ratan Tata to sell all his 77,900 shares in FirstCry IPO
Economic Times
·
1y ago
Medial
Ratan Tata, Chairman Emeritus of Tata Sons, plans to sell his 77,900 shares in the upcoming Initial Public Offering (IPO) of kidswear startup FirstCry. Tata had acquired a 0.02% stake in FirstCry in 2016 for ₹66 lakh. The IPO will include a fresh issue of shares worth up to ₹1,816 crore, with existing investors like SoftBank and Mahindra & Mahindra also selling their shares. FirstCry intends to use the funds to expand its stores in India and Saudi Arabia.
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SoftBank sells its stake in IPO-bound FirstCry for ₹435 crore
Livemint
·
1y ago
Medial
Japanese firm SoftBank has reportedly sold a portion of its stake in e-commerce platform FirstCry to three Indian business family groups. This move is in preparation for FirstCry's upcoming public listing, expected next year. SoftBank's stake reduction is about 1.5-2%. FirstCry aims to file its draft papers by the end of 2023 for its IPO. Ranjan Pai of Manipal Group is also considering investments in PharmEasy and Byju's Akash Institute.
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FirstCry IPO spells windfall for SoftBank, Mahindra Group
The Arc Web
·
1y ago
Medial
FirstCry, a children's products retailer, has filed for an initial public offering (IPO) and disclosed that SoftBank Vision Fund holds a 25% stake, potentially worth over $1 billion at the targeted $4 billion valuation. SoftBank has invested $400 million in FirstCry and could enjoy returns of over 3X its investment. Other sellers in the IPO include Mahindra & Mahindra, PremjiInvest, TPG Growth, Valiant, Newquest, and Think Investments. FirstCry plans to raise $218 million in fresh capital and expand its retail stores, warehouses, and presence in Saudi Arabia.
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Meet The Key Executives At IPO-Bound FirstCry
Inc42
·
1y ago
Medial
FirstCry-parent BrainBees Solutions has refiled its Draft Red Herring Prospectus (DRHP) with SEBI for its upcoming Initial Public Offering (IPO). The IPO will include a fresh issue of shares worth INR 1,816 Crores and an offer for sale (OFS) component of 5.4 Crore equity shares. The company plans to use the funds to set up new stores, establish warehouses, and fund its organic growth opportunities. FirstCry reported sales of INR 4,814 Crores but a loss of INR 278.2 Crores in the first nine months of the fiscal year.
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SoftBank-backed FirstCry targets $2.9 bn valuation in IPO
VCCircle
·
11m ago
Medial
Indian retailer FirstCry is planning an IPO to raise up to $501 million, with a target valuation of $2.9 billion. The company, which sells baby products, aims to tap into the growing market of new parents in India. SoftBank, TPG, and Mahindra and Mahindra are among the existing investors looking to sell a combined stake worth $302 million. The funds raised will be used for acquisitions, international expansion, and establishing new stores and warehouses in India.
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SoftBank may get 106% gains from Ola Electric, 2 more IPOs: Report
Inshorts
·
11m ago
Medial
SoftBank may get 106% returns on cumulative investments worth ₹7,085 crore in Ola Electric, FirstCry and Unicommerce, all of which may list in next two weeks, Moneycontrol's analysis of the startups' offer documents showed. SoftBank is selling FirstCry and Unicommerce shares at three times the prices it bought them for. It'll hold ₹11,011-crore shares in the startups post the IPO.
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SoftBank offloads 1.06% stake in Zomato for INR 1,127 Cr
Inc42
·
1y ago
Medial
Japanese tech investor SoftBank has sold 9.35 crore shares of foodtech giant Zomato in a block deal worth INR 1,127 crore. The shares were sold by SVF Growth (Singapore) at INR 120.5 per share, with buyers including Invesco, ICICI Prudential Insurance, Goldman Sachs, and Morgan Stanley. This latest stake sale suggests that SoftBank has likely completely exited Zomato, following a previous stake sale in October. The move aligns with the trend of international investors divesting from Indian tech companies. Zomato recently reported its second consecutive profitable quarter.
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SoftBank fund sells more of its FirstCry stake ahead of IPO
Economic Times
·
1y ago
Medial
SoftBank's Vision Fund has sold more of its stake in FirstCry, an Indian parenting platform, ahead of its IPO. The move suggests that SoftBank is looking to cash out its investments in the company. FirstCry is expected to go public in the coming months, and this stake sale gives an indication of SoftBank's strategy with regards to its portfolio companies.
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SoftBank-backed FirstCry to file IPO papers soon, targets raising $500-600 million
Economic Times
·
1y ago
Medial
Omnichannel retailer FirstCry is set to file its draft IPO papers in the coming days, aiming to raise $500-600 million at a valuation of $4-5 billion. The company specializes in selling products for kids and mothers online and offline. Three Indian family investment offices recently invested around Rs 435 crore in FirstCry. SoftBank, the largest investor, is looking to dilute its stake to under 26% to comply with FDI laws. Ola Electric, another SoftBank portfolio company, is also expected to file its IPO papers soon.
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