FirstCry Likely to List on Stock Exchanges on August 13

- FirstCry, the mother and baby care retailer, is set to list on stock exchanges on August 13, according to sources. The company will launch the anchor book for its IPO on August 5, with public subscription open from August 6 to August 8. - The IPO is expected to value FirstCry at just under Rs 25,000 crore ($3 billion), making it the second new-age company from SoftBank’s portfolio to go public in August, following Ola Electric. - FirstCry's valuation has slightly decreased from its previous secondaries round, where it was valued at Rs 23,000 crore ($2.8 billion). Initially, the company aimed for a valuation of $3.5-3.75 billion. - The company had to withdraw its initial IPO papers after SEBI sought more clarity on key performance indicators. Upon refiling, FirstCry provided detailed financials, showing a revenue of Rs 4,814 crore and a loss of Rs 278 crore for the nine months leading up to December 31, 2023. - A significant portion of FirstCry's sales, over 75%, comes from online channels. The company aims to raise $215 million via fresh shares and an additional $300 million through the sale of existing shares. Source: Moneycontrol