FirstCry IPO: FirstCry, a company making children's products, is going to launch its IPO in the market soon. FirstCry's parent company Brainbees Solutions has once again submitted the IPO documents to market regulator SEBI. Last time, SEBI had returned the IPO documents saying that correct information about 'Key Performance Indicators' (KPIs) was not given in them.
Company's IPO will be worth Rs 1821 crore
According to the report of Economic Times, the Pune-based company has again filed the Draft Red Hearing Prospectus (DRHP) following the order of SEBI. In this the company has also given information about KPI. It also contains information on order volume, average order value and annual transactions and customer base. According to this, the IPO of the company will be around Rs 1821 crore. Out of this, fresh equity shares worth Rs 1816 crore will be issued and shareholders will also offer for sale equity shares worth about Rs 5.44 crore.
Softbank and Mahindra will sell their stake
In the offer for sale, Cayman Islands registered company SVF Frog will sell approximately 2.03 crore equity shares. SVF Frog is backed by SoftBank. Apart from this, Mahindra & Mahindra will also bring 28.06 lakh equity shares in the market. According to the draft papers, Softbank holds about 25.55 percent stake in Brainbee Solutions. Mahindra & Mahindra also has 10.98 percent stake in the company.
She became a unicorn in the year 2020
Launched in 2010, FirstCry sells a variety of products offline and online for children and mothers. It has taken funding of $425 million so far. In the year 2020, SoftBank had invested $300 million in it. Due to this she became a unicorn. The CEO of the company is Supam Maheshwari. In December last year, he had sold 62 lakh shares of the company before submitting the documents for IPO.
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