🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

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.

Related News

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.

SoftBank sells its stake in IPO-bound FirstCry for ₹435 crore

Livemint

Livemint · 1y ago

SoftBank sells its stake in IPO-bound FirstCry for ₹435 crore

Japanese firm SoftBank has reportedly sold a portion of its stake in e-commerce platform FirstCry to three Indian business family groups. This move is in preparation for FirstCry's upcoming public listing, expected next year. SoftBank's stake reduction is about 1.5-2%. FirstCry aims to file its draft papers by the end of 2023 for its IPO. Ranjan Pai of Manipal Group is also considering investments in PharmEasy and Byju's Akash Institute.

Ola plans $500 million IPO, to appoint banks soon

Economic Times

Economic Times · 1y ago

Ola plans $500 million IPO, to appoint banks soon

Indian ride-hailing company Ola is planning to raise $500 million in an initial public offering (IPO) that would value the company at around $5 billion. The SoftBank-backed company aims to file the necessary papers with India's market regulator within three months. Ola is in talks with several investment banks, including Goldman Sachs and Bank of America, and plans to appoint IPO advisers in the near future. This would be Ola's second attempt at an IPO, after a planned $1 billion fundraising in 2021 was scrapped. The company's investors have recently lowered its valuation to $1.9 billion.

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.

From OYO to Ather Energy- Indian Startups Raised $395 Mn This Week

Inc42 · 11m ago

From OYO to Ather Energy- Indian Startups Raised $395 Mn This Week

Indian startups raised $395.63 million through 20 deals last week, a significant increase of 250% from the previous week's $112.9 million raised via 22 deals. OYO secured a major deal, raising $175 million in a down round. Additionally, Unicommerce and FirstCry went public, and three more startups submitted their IPO papers.

Ola Electric eyes IPO filing by end-October in expedited listing plan

Economic Times

Economic Times · 1y ago

Ola Electric eyes IPO filing by end-October in expedited listing plan

Ola Electric, the Indian e-scooter maker, plans to file regulatory papers for its IPO of up to $700 million by the end of October. Backed by investors such as SoftBank and Temasek, Ola Electric seeks to fast-track its listing process. The company's IPO project is internally known as "Project Himalaya", and it has asked its bankers and lawyers to prioritize meeting a five-week deadline. Ola Electric's IPO roadshows are expected to take place in January or February. The company, with a 30% market share in India, recorded a loss of $136 million in the fiscal year ending March 2023.

Kids retailer FirstCry to refile DRHP with updated financials

Livemint

Livemint · 1y ago

Kids retailer FirstCry to refile DRHP with updated financials

FirstCry, a kids omnichannel retailer backed by SoftBank, is expected to resubmit its draft red herring prospectus (DRHP) with updated financials. This comes after the Securities and Exchange Board of India (SEBI) requested detailed key performance indicators (KPIs). The company aims to raise $500 million through its initial public offering (IPO), with $215 million from fresh issuance and $300 million from existing investors. The IPO, managed by investment banks such as Kotak Mahindra Capital, Morgan Stanley, and Bank of America, is expected to be one of the largest new-age IPOs in recent times.

FirstCry set to file final papers for $3-3.5 billion IPO

Economic Times

Economic Times · 1y ago

FirstCry set to file final papers for $3-3.5 billion IPO

FirstCry, a baby and mother care products retailer, is expected to file its red herring prospectus (RHP) this week for an IPO that values the company at $3-3.5 billion. This will be the second major venture-backed, new-age firm to tap the capital markets this year, following Ola Electric. FirstCry plans to raise $217 million through the IPO, with an offer-for-sale of 54 million shares. The company has received strong interest from institutional investors and aims to close the IPO before August 15. FirstCry operates a network of stores and franchises across multiple cities.

Former cricketer Sachin Tendulkar buys FirstCry shares ahead of IPO launch: Report

IndianStartupNews

IndianStartupNews · 1y ago

Former cricketer Sachin Tendulkar buys FirstCry shares ahead of IPO launch: Report

Former cricketer Sachin Tendulkar's office and TVS Group are among the investors who have acquired shares in FirstCry, the mother and childcare e-commerce platform. This comes as Softbank Vision Fund, the largest shareholder, reduces its stake below 25% in preparation for FirstCry's IPO. The IPO aims to raise $500 million and could have a significant impact on the Indian stock market. Other new investors in FirstCry include Ravi Modi, Kris Gopalakrishnan, and the TVS and DSP family offices.

FirstCry reports Rs 5,632 Cr revenue in FY23; losses spike 6X

Entrackr

Entrackr · 1y ago

FirstCry reports Rs 5,632 Cr revenue in FY23; losses spike 6X

FirstCry, an e-commerce company, saw a significant increase in revenue during FY23, reaching Rs 5,632 crore, a 2.4X growth compared to FY22. However, their losses also surged by 6X during the same period. The company primarily generates revenue from the sale of baby, kids, and mother-related products. FirstCry is preparing for a public listing, aiming to raise $500-600 million, and is currently valued at $4 billion. SoftBank Vision Fund, the largest shareholder, has reportedly sold additional shares, while other investors including Sachin Tendulkar and Kris Gopalakrishnan are buying stakes.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

30 Startups To Watch: Startups Th ...

WIRED Roundup: ChatGPT Goes Full ...

Mira Murati’s Team Rejects $1B Me ...

Download the medial app to read full posts, comements and news.