18 May 2022, Mumbai:
E-commerce business FirstCry plans to recalibrate the size of its planned $1 billion initial public offering due to the current uncertain climate.
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The company plans to opt for a confidential filing if the Securities and Exchange Board of India (SEBI) finalizes its proposal to enable businesses to file confidential ‘pre-filing’ a SEBI.
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This would enable FirstCry to decide whether or not to go for the IPO after seeing Sebi’s observations, without having shared any business information publicly.
FirstCry turned profitable in the 2021 fiscal with a bottom line of Rs 216 crore.
This was a significant improvement from its performance the year before when it reported a loss of Rs 191 crore.
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