Financial Insights

FirstCry plans IPO by the end of the year

FirstCry has started working towards its IPO looking to get listed before the end of 2021. FirstCry is India’s leading channel for babies and kids’ products which started in September 2010. The company has over 200,000 products, 6000 brands, 400 stores across India and UAE and has the largest parenting community in India.

The company is backed by SoftBank, Premji Invest, TPG, ChrysCapital and other big names. The company has appointed Kotak Mahindra and Morgan Stanley to work on its IPO and there are chances that more bankers could be added later on.

“ The proposed IPO will be a combination of primary and secondary issue of shares and it may be the first pure play listing of its kind. It will provide a partial exit to the multiple investors ,” said a source. The company became a unicorn after the company raised around $296 million from SoftBank in 2020 after which SoftBank became its largest shareholder. No further data is available on the IPO yet.

Highlight by Aman Agarwal.

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