FIRSTCRY SUPAM MAHESHWARI
Purplle’s Rs 1,000 crore funding; FirstCry, Unicommerce IPOs cleared
Omnichannel beauty platform Purplle has closed a Rs 1,000 crore funding round. This and more in today’s ETtech Top 5.
FirstCry CEO Supam Maheshwari saw 49% drop in monthly pay in April-December 2023
FirstCry's CEO, Supam Maheshwari, saw a 49% pay reduction to Rs 8.61 crore in FY24. Cofounder Sanket Hattimattur's pay also decreased. Maheshwari sold 6.2 million shares before the IPO.
FirstCry refiles IPO papers; Groww secures payment aggregator licence
FirstCry has refiled its draft IPO papers with market regulator Sebi with updated financials. More on this in today’s ETtech Top 5.
FirstCry to refile IPO papers; Lyskraft’s mega seed funding
Happy Friday! Omnichannel retailer FirstCry will refile its IPO papers following queries from Sebi. This came right on the back of Swiggy’s $1.25 billion proposed IPO receiving shareholder nod. This and more in today’s ETtech Morning Dispatch.
FirstCry to refile IPO papers post Sebi order
FirstCry is set to withdraw its papers for an up to $500 million IPO as early as next week, after India's markets regulator raised questions over key metrics it disclosed to investors.
Firstcry founder Supam Maheshwari sells stake worth Rs 302 crore days before IPO filing
According to the DRHP, Maheshwari held about 7.46% stake as a promoter 10 days before the company filed its IPO prospectus with Sebi. As on the date of filing the IPO papers, the stake was reduced to 5.95%, meaning there was a sale of 62 lakh shares.
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IPO-bound FirstCry's CEO Supam Maheshwari offloads shares worth Rs 300 crore: Report
Supam Maheshwari, cofounder and CEO of mother and child care e-commerce platform FirstCry has reportedly offloaded 6.2 million shares prior to filing for the company's initial public offer (IPO).
Ratan Tata to sell all his 77,900 shares in FirstCry IPO
The average cost of acquisition of shares by Tata comes to Rs 84.72 per share, shows FirstCry's draft red herring prospectus (DRHP) filed with the market regulator Securities and Exchange Board of India (Sebi). His total investment in the company, therefore, comes to about Rs 66 lakh.
FirstCry parent files IPO papers, to raise Rs 1,816 crore via sale of new shares
Existing investors including SoftBank, Premji Invest also selling shares; company to use IPO proceeds for new stores, overseas expansion
FirstCry parent files draft IPO papers: Six key takeaways
Omnichannel retailer FirstCry aims to raise Rs 1,816 crore through the issue of fresh shares, along with an offer for sale of more than 54 million shares. This will make FirstCry only the second Indian vertical ecommerce company to go public after Nykaa, which listed in 2021.
FirstCry files IPO papers to raise Rs 1,816 crore. SoftBank, Mahindra & Mahindra to sell stake
FirstCry IPO: Firstcry's parent Brainbees Solutions will sell shares worth Rs 18.16 billion ($218 million) and existing investors, including SoftBank, will sell up to 54.4 million shares.
SoftBank Vision Fund sells more of its FirstCry stake ahead of IPO
Family offices of Indian cricketer Sachin Tendulkar, Ravi Modi of ethnic wear brand Manyavar, Infosys cofounder Kris Gopalakrishnan, and TVS group family are among those buying into the company.
RBI grants payment aggregator licences to Razorpay, Cashfree, others; FirstCry’s IPO details
While the payment aggregator licence was thought to be routine initially, for the likes of Razorpay and Cashfree, it makes a big impact as they step out of the ban on bringing in new customers.
SoftBank-backed FirstCry set to file for IPO, eyes $500-600 million raise
FirstCry will be the second Indian vertical e-commerce platform to go public after Nykaa’s IPO in 2021. The Pune-headquartered company specialises in selling products for kids and mothers across online and offline formats.
FirstCry to file IPO papers soon; BharatPe’s Rs 500 crore debt plan
Omnichannel retailer FirstCry aims to raise $500-600 million from its public listing and is likely to file its draft IPO papers in the next few days. This and more in today’s ETtech Top 5.
ET Startup Awards 2023: Winners to be Felicitated on October 7
The ninth edition of The Economic Times Startup Awards (ETSA) will be held on Saturday, October 7, in Bengaluru to honour this year's winners across eight categories in what will be a star-studded gathering of the who's who of India's new economy.
ET Startup Awards 2023: Resilient and sustainable businesses key while picking winners, say jury members
Building lasting value as opposed to just pushing for near-term growth and ensuring sustainability even in turbulent times will be some traits the stellar jury members of the Economic Times Startup Awards 2023 will look for in the nominees.
Byju’s restructures biz amid exits; Banks advocate unified registry for digital fraud
Byju’s on Tuesday said it has consolidated four verticals into two, K-10 and exam preparation, as part of moves to restructure its mainstay business.
India’s tax department investigating FirstCry founder for alleged $50 million tax evasion
India's tax department is investigating the founder of unicorn FirstCry.com on charges of evading taxes to the tune of $50 million. Sources said at least six investors in FirstCry, including private equity firm ChrysCapital Management Co and Sunil Bharti Mittal’s family office, have also received enquiries related to the matter.
CaratLane’s Mithun Sacheti on glittering Titan deal; Zerodha expects steady revenue in FY24; and FirstCry closes secondary deal
Happy Monday! Mithun Sacheti hit it big on Saturday when he sold his 27% stake in online jewellery marketplace CaratLane to Titan. The Rs 4,621 crore deal is among the largest for any Indian consumer internet company. Hear all about it from Sacheti himself in today’s super packed edition of the ETtech Morning Dispatch.
Three Indian family offices pick up Rs 435 crore SoftBank stake in IPO-bound FirstCry
SoftBank, which held 29% in the company, is believed to have diluted its stake by about 1.5-2% as part of the secondary share sale.
FirstCry plans secondary offer to sovereign funds at $ 3 billion valuation
Initial talks on for around $100m transaction; SoftBank to sell small stake.
SoftBank, others may pare FirstCry stake pushing company valuation to $4 billion
Ahead of IPO, Secondary Round likely to bring local PEs on board, etailer holds talks with Kedaara Cap.
Avendus Future Leaders Fund buys stake in Xpressbees for Rs 195 crore
This is the sixth deal from the new Rs 1,500-crore fund II raised by Avendus in August 2021. So far, it has invested in companies such as SBI General Insurance, Juspay, Lenskart, Zeta and Licious.
FirstCry plans $1 billion IPO, may seek Sebi nod next month
FirstCry turned profitable in fiscal year 2021, as per recent regulatory filings, clocking a net profit of nearly Rs 216 crore compared with a loss of Rs 191 crore in the previous year. FirstCry reported operational revenue of Rs 1,603 crore in FY21, compared with Rs 814 crore the year before.
TPG-backed FirstCry nears $700 million IPO filing
The online baby product marketplace is seeking a valuation of at least $6 billion, said the people, who asked not to be identified as the information is private. The issuance will include both new and existing shares and a listing could take place as soon as this year, the people said.
Firstcry records Rs 216 crore profit for FY21
According to a senior company official, it is likely to double its profit for FY 22, which will be reflected in the draft red herring prospectus that the company is looking at filing by June quarter this year.
FirstCry appoints bankers, eyes IPO in 2022
FirstCry cofounder and CEO Supam Maheshwari declined to comment while emails sent to Kotak Mahindra Capital and Morgan Stanely are yet to elicit a response.
FirstCry parent's revenue rises to Rs 239 crore in FY17
The total revenue was Rs 239 crore for the period, a jump from Rs 173 crore the year before.
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