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FirstCry News
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FirstCry has refiled its DRHP for an Initial Public Offer (IPO) with the Securities and Exchange Board of India (SEBI), to raise Rs 1,816 crore via fresh issue of shares.
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SoftBank sold shares amounting to around Rs 630 crore this time.
SoftBank had invested $400 million in FirstCry at a valuation of around $900 million.
FirstCry is likely to list only after the 2024 general elections.
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"A founder who has a passion to stay with something and build it into a sustainable company is somebody I tend to support," he said.
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A year after acquiring online maternity and childcare brand BabyOye, Mahindra & Mahindra (M&M) on Saturday said it will sell its franchise business to competitor FirstCry for Rs 362.1 crore on a slump sale basis and also invest in it.
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With this round, the firm, which claims to be Asia's largest online store for babies and kids products, has raised a total of around USD 70 million.
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