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FirstCry To Use IPO Proceeds For Overseas Expansion, Acquisitions, Other Initiatives

Inc42 · 1y ago

FirstCry To Use IPO Proceeds For Overseas Expansion, Acquisitions, Other Initiatives

FirstCry, a kids-focused omnichannel retailer, has updated its plans for capital raised in its initial public offering (IPO). The company aims to invest INR 388.2 crore in its subsidiary, Digital Age Retail, for setting up new modern stores and making lease payments. It will also use INR 150 crore for sales and marketing initiatives, a 50% increase from the initial amount specified. Other investment plans, such as overseas expansion and technology costs, remain unchanged. FirstCry reported a net loss of INR 278.2 crore and revenue of INR 4,814 crore for the first nine months of FY24.

Related News

FirstCry announces Rs 440-465 price band for Rs 4,194 crore IPO. Check details

Economic Times

Economic Times · 1y ago

FirstCry announces Rs 440-465 price band for Rs 4,194 crore IPO. Check details

FirstCry, an omnichannel kids' clothing brand operated by Brainbees Solutions, has announced the price band for its upcoming IPO at Rs 440-465. The IPO will consist of a fresh issue of shares worth Rs 1,666 crore and an offer for sale of up to 5.2 crore shares. Notable sellers in the IPO include Mahindra & Mahindra, SVF Frog, Tata Sons Chairman Emeritus Ratan Tata, and FirstCry Co-Founder and CEO Supam Maheshwari. The IPO will be open for bidding from August 6 to August 8. The proceeds will be utilized for various purposes, including expansion and marketing initiatives.

FirstCry parent Brainbees Solutions receives SEBI approval for Rs 1,816 Cr IPO

YourStory

YourStory · 1y ago

FirstCry parent Brainbees Solutions receives SEBI approval for Rs 1,816 Cr IPO

FirstCry, owned by Brainbees Solutions Limited, has received approval from the Securities and Exchange Board of India for its proposed Initial Public Offering (IPO). The IPO includes a fresh issue of equity shares worth up to Rs 1,816 crore and an offer for sale by existing shareholders. The proceeds from the IPO will be used to expand BabyHug brand stores, construct a warehouse, invest in Digital Age and FirstCry Trading subsidiaries, expand overseas operations, and for general corporate purposes. The book-running lead managers for the IPO are Kotak Mahindra Capital, Morgan Stanley, BofA Securities India, JM Financial, and Avendus Capital.

FirstCry to focus on profitability, cash flow; will invest in Middle East biz to raise Ebitda

Economic Times

Economic Times · 1y ago

FirstCry to focus on profitability, cash flow; will invest in Middle East biz to raise Ebitda

Indian children's wear retailer FirstCry, operated by Brainbees Solutions, is prioritizing profitability and cash flow management following its IPO. The company plans to focus its investments on its international business in the Middle East, particularly in Saudi Arabia, to create an impact on its operating earnings. FirstCry aims to tap into the significant growth potential of the childcare sector in the UAE and Saudi Arabia, driven by higher birth rates compared to other countries. The company's IPO proceeds will be used for international expansion, including the establishment of new stores and warehouses in Saudi Arabia.

SoftBank-Backed FirstCry Plans to mop up INR 363 Cr in Pre-IPO placement

Inc42 · 1y ago

SoftBank-Backed FirstCry Plans to mop up INR 363 Cr in Pre-IPO placement

FirstCry, the SoftBank-backed online retail startup, has filed its draft red herring prospectus (DRHP) with SEBI to raise INR 1,816 Cr through fresh issue of shares. The IPO also includes an offer-for-sale (OFS) component allowing existing shareholders to sell up to 5.43 Cr equity shares. Additionally, FirstCry plans to raise INR 363 Cr through a pre-IPO private placement. The funds raised will be used for various purposes including setting up new stores, overseas expansion, and investment in subsidiaries.

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

VCCircle

VCCircle · 1y 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.

How FirstCry capitalized the online babycare segment

IndianStartupNews

IndianStartupNews · 1y ago

How FirstCry capitalized the online babycare segment

FirstCry, founded by Supam Maheshwari and Amitava Saha, is an online platform that offers baby care products in India. Starting with an inventory-based model, the company expanded to include over 90,000 products from 1,200 brands, both international and Indian. FirstCry's revenue model includes online sales, physical stores, and franchise fees. The company has achieved significant growth, acquiring companies like BabyOye and Oi Playschool. Despite some financial setbacks, FirstCry filed for an IPO to raise funds for expansion and strategic initiatives. Major shareholders, including SoftBank and Mahindra & Mahindra, are part of the offer for sale.

SoftBank-backed FirstCry targets $2.9 bn valuation in IPO

VCCircle

VCCircle · 1y 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.

Ratan Tata to sell all his 77,900 shares in FirstCry IPO

Economic Times

Economic Times · 1y ago

Ratan Tata to sell all his 77,900 shares in FirstCry IPO

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.

Blackstone-owned International Gemmological Institute files for $477 mn IPO

VCCircle

VCCircle · 11m ago

Blackstone-owned International Gemmological Institute files for $477 mn IPO

International Gemmological Institute (IGI), owned by Blackstone, has filed for an initial public offering (IPO) worth $477 million. IGI, which grades diamonds, gemstones, and jewelry, plans to issue new shares worth $164 million and existing shareholders will sell shares worth $312 million. The IPO will be managed by Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, and SBI Capital Markets. Blackstone intends to use the proceeds for payments related to acquisitions in IGI Belgium and IGI Netherlands.

FirstCry Files RHP With SEBI, Reduces Fresh Issue Size To INR 1,666 Cr

Inc42 · 1y ago

FirstCry Files RHP With SEBI, Reduces Fresh Issue Size To INR 1,666 Cr

FirstCry, a leading baby and mother care retailer, plans to allocate a significant portion of its IPO proceeds for expanding its physical presence. The company's initial offer size is INR 1,816 Cr, according to its draft red herring prospectus. With a revenue of INR 6,481 Cr in FY24, representing a 15% increase from the previous year, FirstCry aims to establish new modern stores and warehouses both domestically and internationally.

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