Baby and mother care product company FirstCry is likely to file its red herring prospectus (RHP) this week with the IPO valuation at $3-3.5 billion. A source has confirmed that the platform wishes to launch its IPO for subscription this week and close it by August 15.
Its offer size is aligned with its draft IPO papers at $217 million for primary fundraise. Additionally, there would also be an offer for size (OFS) of 54 million equity shares, under which, shareholders such as Softbank, Premji Invest, TPG Growth, and Mahindra & Mahindra will offload their shares. In its last private funding round, the company was valued at $2.8 billion.
Cofounded by Supam Maheshwari and Amitvaha Saha in 2010, Firstcry operates as an omnichannel marketplace for baby care products. It has raised over $700 million so far in multiple funding rounds, with investors in the likes of SoftBank, ChrysCapital, and Vertex Ventures.
Premji Invest and Softbank-backed startup Firstcry had first filed its DRHP in December 2023 but withdrew after SEBI found some key indicators absent. In April, the Pune headquartered company filed its DRHP again.
It is pertinent to note that FirstCry’s sales revenue was Rs 4,814 crore in the initial nine months of FY24, along with a loss of Rs 278.2 crore.
