The three private equity investors namely TPG, ChrysCapital, and Premji infused a total of $315 million in kids store Firstcry.
Approximately, the amount individually invested in the firm is $100 million by each of the investors.
As per the reports, Firstcry to enter the stock market in 18-24 months. However, the CEO declined to reply to the statement.
Additionally, the investors who provided the funds in the development stage of the company sold their total holdings. These investors are Elevation Capital, Vertex Partners, and MegaDelta Capital Advisors.
Earlier, in January 2019 SoftBank Vision Fund made an investment of $400 million in the company. This resulted in holding the stake of 40 percent in Firstcry.
Also, after the investment, the valuation of the company rose to $1.1 billion.
In 2015, Firstcry took over BabyOye by Mahindra in a deal of amount Rs 362 crore.
Firstcry is the leading online store for newborn baby and kids’ products. The formation of the company took place in the year 2010. The founder of the company is Supam Maheshwari.
The company stated that it offers a wide range of children’s products. The company carries about 5,800 brands and around 7.5 million recognized users.
Also, the company has set-up nearly 400 stores in 125 cities within the country.
In the fiscal year 2020, the company generated revenue of Rs 887.5 crore. It also reduced the loss by 82.5 percent. Besides, in the same year, the expense of the company came down by 26 percent to INR 1,088 Cr.
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