Firstcry Files for IPO, Aims to Raise Funds Worth ₹1,816 Crore

Firstcry Files for IPO, Aims to Raise Funds Worth ₹1,816 Crore

VoM News Desk | December 28, 2023 | 11:57 AM IST | Breaking News | Follow on Google News

Firstcry Files for IPO, Aims to Raise Funds Worth ₹1,816 Crore/Mint

Firstcry Files for IPO, Aims to Raise Funds Worth ₹1,816 Crore

Indian online retail giant Firstcry, through its parent company Brainbees Solutions, has initiated the process for an initial public offering (IPO) as revealed by its draft papers filed on Thursday.

The IPO involves the sale of shares amounting to ₹1,816 crore ($218 million) by Brainbees Solutions, while existing investors, including SoftBank, plan to sell up to 54.4 million shares, according to reports by Reuters.

This move marks Firstcry’s intent to tap into the market and potentially raise substantial funds, showcasing its confidence in the market and potentially expanding its operations in the competitive online retail landscape.

VoM News Desk

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