Former cricketer Sachin Tendulkar buys FirstCry shares ahead of IPO launch: Report

Just months before FirstCry's anticipated IPO, significant changes are happening in its shareholding. Former cricketer Sachin Tendulkar's office and TVS Group, among others, have acquired shares in the mother and childcare e-commerce platform.

According to an ET report, which first reported the development, The move comes as Softbank Vision Fund, the largest shareholder, reduces its stake to below 25% by selling shares worth Rs 600 crore.

Softbank's strategic share sale

Softbank's decision to offload a major portion of its shares in FirstCry has opened doors for family offices and major investment firms. The development is part of its preparations for FirstCry's IPO, with Softbank's stake in the company dropping from around 30% to less than 25%.

Diverse investors join the fray

The list of new investors in FirstCry is diverse, including family offices of Sachin Tendulkar, Ravi Modi (Manyavar), Kris Gopalakrishnan (Infosys co-founder), and TVS group family. The investments follow earlier share acquisitions by Ranjan Pai (Manipal Group), Harsh Mariwala’s Sharrp Ventures, and Hemendra Kothari’s DSP family offices.

FirstCry's IPO

FirstCry is gearing up for an IPO that could significantly impact the Indian stock market. The IPO, expected after the Lok Sabha elections, aims to raise $500 million. With a potential listing valuation of $4 billion, the IPO will include both fresh issues and Offer For Sale (OFS) components.

FirstCry, founded in 2010, has grown into a leading omnichannel retailer for mother and baby products. With SoftBank's backing since 2020 and a network nearing 1,000 retail stores in India, the company is poised for further expansion. The IPO will also see new investors like Premji Invest and the Mahindra group joining FirstCry's capital table.

Join our new WhatsApp Channel for the latest startup news updates