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Funding cycles come and go; great teams persist, compound value for shareholders: FirstCry’s Supam Maheshwari

Economic TimesEconomic Times · 1y ago
Funding cycles come and go; great teams persist, compound value for shareholders: FirstCry’s Supam Maheshwari
Medial

Indian retail brand FirstCry, operated by Brainbees Solutions, will launch its IPO on August 6, with a target of raising Rs 4,188 crore. CEO Supam Maheshwari discussed the company's journey, the changing IPO landscape for new-age firms, and plans for expansion. Despite market fluctuations, Maheshwari emphasized the importance of creating sustainable value and building a unique ecosystem story. FirstCry plans to open 350 stores over the next three years, invest in technology and manufacturing, and expand internationally. Maheshwari highlighted the significance of the omnichannel model and the growth potential in both online and offline retail. The company's brand aggregator platform, Globalbees, also showed positive financial performance.

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Early investors set to gain from new-age IPO windfall

Economic TimesEconomic Times · 1y ago
Early investors set to gain from new-age IPO windfall
Medial

Investors who got in early on the upcoming IPOs of FirstCry and Ola Electric could see significant returns. Companies like SoftBank, Tiger Global, Mahindra & Mahindra, and Matrix Partners India are expected to see their stock value surge by three to ten times. This means SoftBank's gains in FirstCry could exceed 3X based on its acquisition cost, while Mahindra & Mahindra could see a nearly 6X gain. Similarly, early backers of Ola Electric like Tiger Global and Matrix Partners India could achieve gains of more than 6X and nearly 10X, respectively. Latecomers may face notional losses due to moderated valuations. Founders of FirstCry and Ola Electric, Supam Maheshwari and Bhavish Aggarwal, are expected to accumulate significant wealth through the IPOs.

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).

FirstCry injects Rs 73 Cr in Globalbees, raises stake to 51.51%

EntrackrEntrackr · 6d ago
FirstCry injects Rs 73 Cr in Globalbees, raises stake to 51.51%
Medial

FirstCry injects Rs 73 Cr in Globalbees, raises stake to 51.51% Omnichannel baby products retailer FirstCry has infused Rs 73 crore into its subsidiary Globalbees Brands Pvt. Ltd. as part of the second tranche of its Series C2 funding round, according to a stock exchange filing. The Pune-based company subscribed to 2,220 Series C2 compulsory convertible preference shares (CCPS) at a face value of Rs 5 each and a premium of Rs 3,28,845 apiece on September 11. With this, FirstCry’s holding in Globalbees has inched up from 51.12% to 51.51% on a fully diluted basis. This is part of the board-approved plan to invest up to Rs 146 crore in Globalbees in one or more tranches. The latest tranche comes under the Series C2 Share Subscription Agreement signed on March 30, 2025. Alongside FirstCry’s infusion, Globalbees has allotted a total of 3,041 Series C2 CCPS to its existing shareholders, raising an aggregate Rs 100 crore in this tranche. FirstCry's revenue from operations grew to Rs 1,862.56 crore in Q1 FY26 from Rs 1,652 crore in Q1 FY25, and the company reduced its losses by 13% to Rs 66.5 crore in the same period. Notably, the company reported a positive EBITDA of Rs 75 crore.

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