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Firstcry's parent files IPO papers with Sebi
Mint Mumbai
|December 29, 2023
Co to raise ₹1,816 cr via new shares; existing investors to sell 54.39 mn shares
Brainbees Solutions Pvt. Ltd, the parent of online retailer FirstCry, on Thursday filed its draft papers for an initial public offering (IPO).
The SoftBank-backed company will issue fresh shares worth ₹1,816 crore, while existing investors will offload 54.39 million shares through an offer for sale, the company said in its draft red herring prospectus (DRHP). The retailer has been profitable for the last four years.
Among the key sellers in the OFS are SoftBank's SVF Frog (Cayman) with 20.3 million shares, followed by Mahindra & Mahindra with 2.8 million shares, PI Opportunities Fund-1 with 8.6 million shares, TPG Growth V SF Markets Pte. with 3.9 million shares, and NewQuest Asia Investments with 3 million shares.
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