According to the latest draft red herring prospectus (DRHP), FirstCry’s IPO size remains the same where it intends to raise the $218 million (about Rs 1,815 crore) in primary funding through issuance of new shares and divestment of 54 million shares from existing investors.
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For the nine months ending December 2023, the Pune-based firm has recorded operating revenue of 4,814 crore with a net loss of Rs 278 crore, according to the latest DRHP.
Nearly 77% of its total sales come from online with the rest through offline retail stores. It clocked a gross sales of Rs 5,650 crore for the nine-month period ending in December 2023.
FirstCry’s IPO launch may not happen around July. FirstCry’s IPO is expected to be around $500 million in size (about Rs 4,163 crore) but this would depend on the final valuation of the company in the public offering. The Premji Invest-backed company, which was last valued at under $3 billion in the private market, is considering to float its public issue at a valuation of around $4 billion, ET had reported earlier.
