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FirstCry IPO: M&M, SoftBank, TPG Growth Set To Make Big Gains

Inc42 · 11m ago

FirstCry IPO: M&M, SoftBank, TPG Growth Set To Make Big Gains

Indian automotive company Mahindra & Mahindra is expected to make a 6X return by selling more than 28 lakh shares of FirstCry, while SoftBank is also anticipating a 3X gain from the startup's upcoming public listing. SoftBank is also set to profit from its investment in Ola Electric, with a 1.5X return, as well as potential gains from Unicommerce's IPO. Key stakeholders, such as Ratan Tata and FirstCry founders Supam Maheshwari and Amitava Saha, will also be selling shares in the public offering, which was oversubscribed 12.22 times.

Related News

FirstCry IPO spells windfall for SoftBank, Mahindra Group

The Arc Web

The Arc Web · 1y ago

FirstCry IPO spells windfall for SoftBank, Mahindra Group

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.

SoftBank, TPG, PremjiInvest, NewQuest to make partial exit in FirstCry IPO

VCCircle

VCCircle · 1y ago

SoftBank, TPG, PremjiInvest, NewQuest to make partial exit in FirstCry IPO

Indian baby products retailer FirstCry's IPO will see major stakeholders, including SoftBank, TPG, PremjiInvest, and NewQuest, sell part of their stakes. SoftBank, the largest shareholder, will sell around 20.32 million shares, while TPG and NewQuest plan to offload approximately 3.9 million and 3 million shares respectively. PremjiInvest will sell 8.6 million shares. The IPO will also include fresh shares worth $218 million being issued by FirstCry. The funds raised will be used for expansion and business growth.

SoftBank, TPG-backed FirstCry set to withdraw IPO papers after SEBI scrutiny

VCCircle

VCCircle · 1y ago

SoftBank, TPG-backed FirstCry set to withdraw IPO papers after SEBI scrutiny

FirstCry, an Indian retailer backed by SoftBank and TPG, is expected to withdraw its IPO papers after India's market regulator raised concerns over key metrics disclosed to investors. FirstCry sells baby products and had planned to raise up to $500 million through its IPO. However, the Securities and Exchange Board of India (SEBI) recently informed the company that it had not complied with regulations requiring the sharing of key business metrics from the past three years. FirstCry will now make changes and refile its IPO papers at a later date.

FirstCry’s top executives, investors likely to win big with IPO

Livemint

Livemint · 12m ago

FirstCry’s top executives, investors likely to win big with IPO

FirstCry, a children's clothing company, is set to debut on the stock market, with its IPO scheduled for August 13th. The price range for the IPO has been set at INR 440 to INR 465 per share, and the company is seeking a valuation of $2.9 billion. Top executives at FirstCry stand to make significant returns, with the founding team alone holding shares valued at INR 2,127 crore. Investors such as Mahindra & Mahindra, Schroders Capital, and NewQuest are also expected to make substantial gains. The proceeds from the IPO will be used for various purposes, including investments in subsidiary companies and sales and marketing activities.

SoftBank, TPG-backed FirstCry gets $3.4 bn in bids for $501 mn IPO

VCCircle

VCCircle · 11m ago

SoftBank, TPG-backed FirstCry gets $3.4 bn in bids for $501 mn IPO

Indian baby products retailer FirstCry's $501 million IPO received bids worth $3.36 billion, with investors optimistic about the growth potential of the baby and child products market in India. The IPO was initially slow to attract interest but gained momentum and was oversubscribed. The institutional investor portion was oversubscribed by 19.3 times, while retail investors bid 2.3 times the shares on offer for them. FirstCry, backed by SoftBank, TPG, and Mahindra & Mahindra, plans to use the funds for acquisitions, international expansion, and to establish new stores and warehouses in India.

Firstcry, Ola Electric IPOs to build a club of super-rich

Livemint

Livemint · 1y ago

Firstcry, Ola Electric IPOs to build a club of super-rich

Top executives of Ola Electric and Firstcry are set to make significant gains from their companies' upcoming IPOs, according to an analysis of their draft red herring prospectus. The top 10 leaders of Ola Electric could collectively make around ₹16,792 crore, with CEO Bhavish Aggarwal's stake alone valued at over ₹16,000 crore. Meanwhile, the top 10 leaders of Firstcry stand to make at least ₹2,467 crore in the IPO. These figures are based on the companies' valuations in their last funding rounds. Both companies are awaiting approval from the Securities and Exchange Board of India (Sebi) for their IPOs.

SoftBank-backed FirstCry to file IPO papers soon, targets raising $500-600 million

Economic Times

Economic Times · 1y ago

SoftBank-backed FirstCry to file IPO papers soon, targets raising $500-600 million

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.

SoftBank-backed FirstCry targets $2.9 bn valuation in IPO

VCCircle

VCCircle · 12m ago

SoftBank-backed FirstCry targets $2.9 bn valuation in IPO

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.

HNIs line up as SoftBank offloads stake worth $310 Mn In IPO-bound FirstCry

Inc42 · 1y ago

HNIs line up as SoftBank offloads stake worth $310 Mn In IPO-bound FirstCry

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.

How Norwest, TPG stand to mint money as SK Finance eyes $1 bn valuation in IPO

VCCircle

VCCircle · 1y ago

How Norwest, TPG stand to mint money as SK Finance eyes $1 bn valuation in IPO

Non-banking lender SK Finance is preparing for an initial public offering (IPO) and is eyeing a valuation of $1 billion. The company recently concluded a pre-IPO funding round worth $160 million from new investors such as Motilal Oswal Alternates and existing backers including TPG Growth. With this IPO, both Norwest and TPG stand to make significant profits. SK Finance aims to raise additional capital to fuel its growth and expand its operations in the non-banking financial sector.

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