Page 2 - Firstcry

FirstCry CEO Supam Maheshwari's salary cut in half to Rs 8.6 crore a month

Founder and CEO of FirstCry Supam Maheshwari's overall earnings amounted to Rs 77.5 crore during the first three quarters of FY24, in comparison to Rs 200.7 crore for the entirety of FY23

FirstCry refiles IPO papers, reports December revenue at Rs 4,814 crore

FirstCry's Key Performance Indicators (KPIs) include its average order value, annual transacting customers and number of orders

FirstCry set to withdraw $500 million IPO papers after regulatory scrutiny

For the year ended March 31, 2023, its losses jumped six times to $57.6 million, while its total income more than doubled to $684 million, its draft papers show

IPO-bound Firstcry to expand operations in Saudi; allocate Rs 155 crore

Already a prominent player in the Saudi market, this investment will further strengthen its position

2024 expected to be year of IPO boom led by new-age firms, say experts

Experts said a combination of various factors including rise of tech firms, investor confidence, a resilient economy and a supportive regulatory environment are propelling growth of India's IPO market

SoftBank set to offload over 16% stake as part of OFS in FirstCry's IPO

PI Opportunities Fund-1 is expected to offload over 36 per cent stake and Mahindra & Mahindra would sell over 5 per cent stake as part of the IPO

FirstCry's parent firm files DRHP; to raise Rs 1,816 crore via fresh issue

The Supam Maheshwari-led company proposes to utilise net proceeds from the offer towards funding the expenditure for setting up new modern stores, a warehouse and lease payments

Ratan Tata to divest all his 77,900 shares of FirstCry in upcoming IPO

Veteran industrialist and former Tata Group Chairman Ratan Tata is looking to sell all 77,900 shares of Brainbees Solutions Ltd, which owns omnichannel baby and mother-care product platform FirstCry, in the upcoming IPO. Tata became an investor in the company in 2016 by infusing Rs 66 lakh initially. He was allotted preference shares of the company. According to the draft red herring prospectus (DRHP) filed on Thursday, Tata is offering to sell his entire 77,900 shares, amounting to a 0.02 per cent stake, of FirstCry. The Pune-based company's proposed Initial Public Offering (IPO) comprises a fresh issue of equity shares aggregating up to Rs 1,816 crore and an Offer For Sale (OFS) of up to 5.44 crore equity shares by existing shareholders, as per the draft papers. As a part of the OFS, SVF Frog, a Cayman Islands-registered entity of Softbank, will sell 2.03 crore equity shares of Brainbees Solutions Ltd, and automaker Mahindra & Mahindra (M&M) will offload 28.06 lakh shares of

Firstcry's parent firm Brainbees Solutions files papers to go public

Firstcry IPO: Brainbees Solutions will sell shares worth Rs 1,816 crore and existing investors, including SoftBank, will sell up to 54.4 million shares

FirstCry's consolidated net loss widens to Rs 486 crore this fiscal

Brainbees Solution Ltd, which operates omnichannel businesses under the brand name FirstCry, said its consolidated net loss has widened to Rs 486.05 crore in FY 2022-23, according to the financial data accessed by business intelligence platform Tofler. However, its consolidated revenue was up over two fold to Rs 5,632.53 crore for the financial year which ended on March 31, 2023. It had reported a net loss of Rs 78.68 crore and its revenue from operations was at Rs 2,401.28 crore for the financial year that ended on March 31, 2022. FirstCry, according to some reports, is considering to file for an initial public offering. This SoftBank-backed startup has now joined the league of startups having a revenue of over Rs 5,000 crore. Revenue from other income of FirstCry was down 14.6 per cent to Rs 98.73 crore. The total consolidated income of FirstCry for FY23 was at Rs 5,731.27, up over two folds. It was Rs 2,516.91 crore a year before. Similarly, the total expenses of FirstCry wer

SoftBank sells shares worth $310 mn in omnichannel retailer FirstCry

Japanese conglomerate SoftBank has sold shares worth USD 310 million in omnichannel retailer FirstCry, which is likely to file a draft paper for IPO this week, sources said on Monday. "SoftBank recently sold shares worth Rs 630 crore in FirstCry. It was picked up by a few high net worth individuals. With this sale, SoftBank has realised USD 310 million from two rounds of stake sale in FirstCry," a source told PTI. The source said that the sale values FirstCry in the range of USD 3.5-3.75 billion. SoftBank had invested USD 400 million in FirstCry at an enterprise valuation of USD 900 million. Another source said that SoftBank is still left with shares valued in the range of USD 800-900 million which it will sell later. "SoftBank is looking to make around USD 1.3 billion from the investment made in FirstCry," the source said. Email query sent to SoftBank elicited no response in this regard.

SoftBank's Vision Fund hikes valuation of Swiggy, Ola Electric, FirstCry

SoftBank's Vision Fund is also increasing its focus on companies which can benefit from the artificial intelligence revolution

FirstCry founder Maheshwari probed for alleged $50 million tax evasion

At least six investors in FirstCry, including private equity firm ChrysCapital Management Co and Sunil Bharti Mittal's family office, have also received enquiries related to the matter

SoftBank sells a part of its stake in IPO-bound FirstCry for Rs 435 crore

Three Indian family investment offices have reportedly picked up stakes in the SoftBank-backed e-commerce firm

FirstCry in talks with sovereign funds to sell stake at $3 bn valuation

SoftBank, led by Masayoshi Son, is likely to sell a portion of its 29 per cent stake in the company if the deal goes through, sources said

NIIF drops investment in TPG-backed e-commerce startup FirstCry: Report

FirstCry, formally known as BrainBees Solutions Pvt, runs an online store featuring products for children and expecting mothers

GlobalBees enters unicorn club with $111.5 mn funding led by Premji Invest

GlobalBees was founded in May 2021 and has built a diverse portfolio of companies across categories.

Thrasio-like startup GlobalBees raises $150 mn to create a house of brands

This is the largest Series A round by a Thrasio-style startup in the country. With this round, Vikas Agnihotri of Softbank, Harsha Kumar of Lightspeed and others join the GlobalBees board

Firstcry secures around $400 mn from Softbank as part of series-E funding

FirstCry has emerged as the leader in the sunrise baby and mother care sector segment, prompting rising interest of global investors

Firstcry Group firm acquires Oi playschool chain-brief for undisclosed sum

Founded in 2010, Oi Play School currently runs 55 pre-school centers, most of them in Hyderabad and Bengaluru