09 August 2022, Mumbai:
Japan’s SoftBank and NewQuest Capital Partners are among existing investors seeking to sell shares of IPO-bound FirstCry in the secondary market, valuing the baby products retailer in the range of $3.5-4 billion, according to several people in the know.
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The company having Prashant Jadhav, Co-founder 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.
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 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.
(ET report)
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