FirstCry Files Updated IPO Papers, Revenue At Rs 4,841 Crore
The IPO is expected to raise about Rs 3,700 crore in a combination of a fresh issue and an offer for sale.
FirstCry parent BrainBees Solutions Pvt. has refiled its papers for an initial public offering after SEBI sought additional information and sent back the online retailer's initial set of documents.
In its latest draft red herring prospectus, FirstCry has reported a revenue from operations of Rs 4,841 crore and a loss of Rs 278 crore for the nine-month period ended December 2023. Earlier, the company had reported numbers only for the three months ended June 2023.
The Securities and Exchange Board of India had found certain key-performance-indicator disclosure-related issues and sought clarity from the company, according to two persons familiar with the matter.
As per its latest key operating metrics, the company has 8.8 million annual unique transacting customers, an increase from 8.25 million it posted as of June 2023. Its orders also inched up to 26.7 million, while average order value rose to Rs 2,554 from Rs 2,482.
The Supam Maheshwari-led company's IPO is expected to raise about Rs 3,700 crore in a combination of a fresh issue and an offer for sale. There is no change in the structure of the offering, with the Pune-based unicorn planning to sell fresh equity shares worth Rs 1,816 crore, while existing investors, including SoftBank, will sell up to 5.44 crore shares via an OFS, according to its fresh DRHP.
Launched in 2010, FirstCry sells a wide range of products for babies, kids and mothers through online and physical stores. It has raised about $425 million till date and turned unicorn in 2020 when SoftBank invested around $300 million.
