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IPO-bound FirstCry's CEO Supam Maheshwari offloads shares worth Rs 300 crore: Report

Economic Times

Economic Times · 1y ago

IPO-bound FirstCry's CEO Supam Maheshwari offloads shares worth Rs 300 crore: Report

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).

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 CEO Supam Maheshwari saw 49% drop in monthly pay in April-December 2023

Economic Times

Economic Times · 1y ago

FirstCry CEO Supam Maheshwari saw 49% drop in monthly pay in April-December 2023

FirstCry CEO Supam Maheshwari saw a 49% drop in monthly remuneration to Rs 8.61 crore for the first nine months of FY24, according to the company's draft red herring prospectus (DRHP) before filing for an IPO. Co-founder Sanket Hattimattur also experienced a decrease in pay. FirstCry is aiming to raise $218 million through a fresh issue of shares in its IPO, which is expected to be valued at around $500 million. The company recorded a net loss of Rs 278 crore for the nine months ending in December 2023.

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

Economic Times

Economic Times · 1y ago

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

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.

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 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.

Elevation Partners offloads 21.5 lakh shares in Ixigo parent for Rs 38.3 crore

Economic Times

Economic Times · 2m ago

Elevation Partners offloads 21.5 lakh shares in Ixigo parent for Rs 38.3 crore

Elevation Capital sold 21.5 lakh shares in Ixigo's parent company, Le Travenues Technology, for Rs 38.27 crore at Rs 178 each, retaining a 13% stake. The firm had previously invested Rs 63.1 crore in Ixigo and sold shares worth Rs 100 crore before IPO, and about Rs 181 crore during the IPO's OFS. Ixigo's net profit grew 128% YoY, with operating revenue rising 72% to Rs 284 crore.

March Capital Offloads CarTrade Shares Worth Over INR 70 Cr In Bulk Deals

Inc42 · 1y ago

March Capital Offloads CarTrade Shares Worth Over INR 70 Cr In Bulk Deals

March Capital, a pre-IPO shareholder of CarTrade Technologies, offloaded around 950,000 shares of the company in bulk deals worth over INR 70 crore. Spritefield Venture International sold 632,000 shares, while MCP3 SPV sold 316,000 shares. CarTrade's shares fell 2.8% despite ICICI Prudential Mutual Fund purchasing 677,000 shares in bulk deals. In its Q3 FY24 report, CarTrade reported a net loss of INR 23.5 crore, primarily due to the closure of the OLX business division. However, the operating revenue increased by over 42% to INR 138.6 crore.

IPO-bound BlueStone geared for unicorn tag

Economic Times

Economic Times · 1m ago

IPO-bound BlueStone geared for unicorn tag

Bluestone, a jewellery retailer, is preparing for its IPO with a valuation of approximately Rs 10,500 crore ($1.2 billion). 360 One and Centrum Wealth are managing secondary deals worth Rs 300–350 crore, seeing existing investors, such as RB Investments, exit with significant returns. This follows BlueStone’s Rs 900 crore funding round in 2024. The company closed fiscal 2024 with Rs 1,266 crore in revenue, despite net losses, reflecting increased investor interest in the jewellery sector.

India's demographics will help FirstCry grow: CEO Supam Maheshwari

Inshorts · 11m ago

India's demographics will help FirstCry grow: CEO Supam Maheshwari

FirstCry CEO Supam Maheshwari said the firm will continue to grow in India given the country's demographics. "We believe we can further compound growth in our topline and bottom line. We are here to build a new-age retail playbook for India," he said. Shares of FirstCry-parent Brainbees Solutions were listed on stock exchanges on Tuesday with a 40% premium.

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.

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