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Details of FirstCry’s shareholders, holding at least 1%, as of Thursday. (Disclosure: FirstCry DRHP)
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FirstCry , India ’s magnanimous e - commerce political program for female parent and infant products , is purpose to bring up $ 218 million through the sales event of raw shares in its initial public offering , almost a third of the $ 700 million it had originally targeted .
Brainbees Solutions , the parent firm ofonline baby merchandise marketplace FirstCry , pen in a draft prospectus file with the local mart governor that some investor including SoftBank , NewQuest and TPG plan to sell some shares as part of the IPO .
The startup is eyeball a valuation of about $ 4 billion , down from its previous $ 6 billion aim last year , according to a person familiar with the matter . FirstCry said it had n’t set the price in its draught course catalog . The script - running lead managers appointed for the IPO include Kotak Mahindra Capital , Morgan Stanley , BofA Securities India and JM Financial .
establish in 2010 , FirstCry plans to use the IPO proceeds toward expenditure for setting up new stores and storage warehouse , sales and merchandising initiatives , investments in overseas and domestic enlargement , engineering costs and inorganic growth through acquisitions . FirstCry bid more than 1 million SKUs from over 6,800 brands . This includes major third - party Indian and international brands as well as FirstCry ’s own habitation brands such as BabyHug , Babyoye and others .
The inauguration also operate 180 pre - schools under the brand FirstCry Intellitots across India . Brainbees has also expound overseas by launch FirstCry online weapons platform in UAE and Saudi Arabia . It also acquired a absolute majority stake inGlobalBees in 2021 .
FirstCry account more than doubling its full income to $ 688.4 million in the fiscal yr finish March 2023 , up from $ 302 million from the same period a yr ago . In the financial yr ending March this year , its red had inflate to $ 58.3 million , from $ 9.4 million from a yr ago .
