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FirstCry raises $227 Mn from anchor investors ahead of IPO

EntrackrEntrackr · 1y ago
FirstCry raises $227 Mn from anchor investors ahead of IPO
Medial

BrainBees Solutions Limited, the parent company of FirstCry, has offered Rs 1,886 crore (approximately $227 million) worth of shares to 71 anchor investors as part of its initial public offering. The board at FirstCry has passed a resolution to offer 4,05,55,428 equity shares at an issue price of Rs 465 each (upper-band) to its anchor investors, its regulatory filing accessed from the Bombay Stock Exchange shows. SBI, Fidelity, Goldman Sachs, ICICI, HDFC, Kotak, Bajaj Allianz, Steadview, Morgan Stanley, and Max Life are some key anchor investors in Firstcry’s IPO. FirstCry will initiate its public offering from August 6 to August 8 with a price band of Rs 440-465 with a minimum bid quantity of 32 shares. Before the anchor investment round, SoftBank was the largest shareholder in FirstCry with a 25.53% stake followed by Mahindra & Mahindra and Premji Invest which hold 10.97% and 10.36% respectively. The company’s founder Supam Maheshwari has 6% of the share capital while the entire ESOP pool forms 8.4% of the cap table. FirstCry demonstrated decent growth during the last fiscal year. Its operating revenue increased by 15% to Rs 6,481 crore while the Pune-based firm managed to control its losses by 34% to Rs 321 crore in FY24 with an improved EBITDA margin. As per the company’s DRHP, it had 1,018 offline stores across the country out of which 632 were franchise-owned while remaining owned by the company until the end of the last calendar year (2023).

Shadowfax IPO set to deliver multifold gains for Kunal Bahl, Flipkart, Eight Roads, and others

EntrackrEntrackr · 5d ago
Shadowfax IPO set to deliver multifold gains for Kunal Bahl, Flipkart, Eight Roads, and others
Medial

Shadowfax is gearing up for its Rs 1,907 crore initial public offering as the company has set the upper end of its IPO price band at Rs 124 per share. The fixed price band has cleared the way for significant returns for several early investors. According to the price band and offer details, a number of strategic and financial backers are set to gain multi-fold returns on their initial investments as they pare their holdings in the logistics startup. Flipkart, one of Shadowfax’s early and strategic investors, is expected to generate nearly 3X returns on its investment by selling shares worth around Rs 237 crore through the OFS. Eight Roads Investments, an affiliate of Fidelity, stands out among financial investors with an estimated 10X return on shares worth Rs 197 crore. NewQuest Asia Fund is set to make about 2X returns by offloading shares worth Rs 150 crore, while Nokia Growth Partners (NGP Capital) is likely to see nearly 4X gains on its Rs 101 crore OFS. The International Finance Corporation (IFC), the World Bank’s private-sector arm, is also expected to exit partially with around 4X returns on shares worth Rs 84 crore. Among other investors, Mirae Asset is set to generate close to 4.9X returns on its Rs 138 crore stake sale, while Qualcomm Asia Pacific is expected to earn around 5X returns by selling shares worth Rs 62 crore. Notably, individual investors Kunal Bahl and Rohit Kumar Bansal are set to emerge as the biggest winners in percentage terms. Each is selling shares worth about Rs 14 crore, translating into a massive 157X return on their initial investments, according to the IPO price band. Shadowfax’s IPO comprises a fresh issue of around Rs 1,000 crore and an offer-for-sale (OFS) component of approximately Rs 907 crore. The company is targeting a post-money valuation near Rs 7,400 crore, lower than earlier internal drafts. Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, the Bengaluru-based firm provides last-mile delivery across e-commerce and hyperlocal sectors, serving over 14,000 pin codes through 1.25 lakh delivery partners.

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