Firstcry IPO: If you are planning to make money through IPO then this news is useful for you. In fact, the Securities and Exchange Board of India (SEBI) has approved the IPO proposals of two portfolio firms of SoftBank. These two firms are omnichannel baby products retailer FirstCry and Pune-based ecommerce enterprise software developer Unicommerce.
FirstCry details
Last May, FirstCry’s parent company Brainbees Solutions Limited had filed documents with the Securities and Exchange Board of India (SEBI) for the second time to raise funds through IPO. The proposed IPO will involve issuance of fresh shares worth up to Rs 1,816 crore and an offer for sale (OFS) of 5.44 crore shares by existing shareholders.
Ratan Tata’s stake
Ratan Tata also has a major stake in FirstCry. Ratan Tata held 77,900 shares, Tata had purchased 0.02% in preference shares at a price of Rs 84.72 per share, equivalent to an investment of approximately Rs 66 lakh. SoftBank is going to sell 20.3 million shares. Similarly, Mahindra & Mahindra (M&M) plans to sell 2.8 million shares. TPG will sell 3.9 million shares and the investment arm of Premji Foundation will sell 8.6 million shares.
FirstCry reported operating revenue of Rs 4,814 crore during the nine-month period ending December 2023. However, the company suffered a net loss of Rs 278 crore during the same period. The company’s gross sales stood at Rs 5,650 crore. About 77% of its total sales come from online and the remaining through offline retail stores.
Unicommerce IPO plan
Talking about Unicommerce, the company had given documents for IPO in January. The company is planning to sell shares worth about Rs 480-490 crore in this IPO. While there is no fresh issue in this IPO, there is a plan to sell a total of 29,840,486 equity shares with a face value of Re 1. This includes 11,459,840 equity shares of Acevector Limited (formerly known as Snapdeal Limited). IIFL Securities Limited and CLSA India Private Limited are the book running lead managers to the issue.
