In the lead-up to the much-anticipated initial public offering (IPO) of FirstCry, significant shares of the mother and childcare e-commerce platform have been acquired by notable figures, including cricket legend Sachin Tendulkar and Infosys co-founder Kris Gopalakrishnan. Softbank Vision Fund, the largest shareholder in FirstCry, has strategically divested shares, making room for family offices and major investment firms to secure their positions before the IPO.
Family offices representing Sachin Tendulkar, Ravi Modi of Manyavar, Kris Gopalakrishnan, and the TVS group have participated in this share acquisition. Softbank’s move to reduce its stake to less than 25 percent, raising ₹600 crores through share sales, marks a strategic shift ahead of the IPO, where it used to hold approximately 30 percent of the company a couple of years ago.
Earlier investors, such as Ranjan Pai (Manipal Group), Harsh Mariwala’s (Marico) Sharrp Ventures, and Hemendra Kothari’s DSP family offices, had already invested in FirstCry.
The FirstCry IPO, expected to be launched after the Lok Sabha elections, is garnering attention with an estimated valuation of $4 billion, up from its previous valuation of $3 billion. The IPO aims to raise $500 million, with 37 percent of the stake allocated for a fresh issue and the remainder for Offer For Sale (OFS).
With the IPO papers set to be filed on December 29, new investors, including Premji Invest (family office of Wipro founder Azim Premji) and the Mahindra group, are poised to join FirstCry’s cap table. The IPO details will be disclosed at that time, providing a comprehensive outlook on the company’s plans and financial strategies.
