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 of SoftBank’s portfolio companies. The two companies are omnichannel baby products retailer Firstcry and Pune-based ecommerce enterprise software developer Unicommerce.
Firstcry details
Last May, FirstCry’s parent company Brainbees Solutions Ltd filed documents with the Securities and Exchange Board of India (Sebi) for the second time to raise funds through an IPO. The proposed IPO has Rs. It will involve issuance of up to 1,816 crore new shares and an offer for sale (OFS) of 5.44 crore shares by existing shareholders.
Ratan Tata also has a major stake in FirstCry. Ratan Tata held 77,900 shares, Tata paid Rs. 84.72 bought 0.02% in the preference shares, which is roughly Rs. 66 lakhs is equivalent to an investment of Rs. 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 Premji Foundation’s investment arm will sell 8.6 million shares.
During the nine-month period ended December 2023, FirstCry raised Rs. 4,814 crore in operating income. However, during this period the company received Rs. 278 crore was a net loss. Total sales of the company are Rs. 5,650 crore remained. About 77% of its total sales come from online and the rest through offline retail stores.
Unicommerce IPO Plan
As for Unicommerce, the company filed documents for an IPO in January. The company raised around Rs. 480-490 crore is planning to sell shares. 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 Rs 1. This includes 11,459,840 equity shares of Acevector Limited (earlier known as Snapdeal Limited). IIFL Securities Limited and CLSA India Private Limited are the book running lead managers of the issue.