FirstCry IPO: SoftBank To Offload Over 2 Cr Shares

FirstCry IPO: SoftBank To Offload Over 2 Cr Shares

SUMMARY

SoftBank will offload over 2 Cr shares of its 12.4 Cr total shareholding, as part of FirstCry’s IPO

Mahindra & Mahindra will offload over 28 Lakh shares, Premji Invest will offload 86 Lakh shares, while Ratan Tata, an individual shareholder, will sell 77,900 shares as part of the IPO

FirstCry’s IPO comprises fresh issues of shares aggregating up to INR 1,816 Cr and an OFS component of 5.4 Cr equity shares

SoftBank will offload the highest number of shares in Pune-based omnichannel marketplace FirstCry’s initial public offering (IPO). As per the draft red herring prospectus (DRHP), the Japanese investor behemoth will be selling up to 2 Cr shares as part of the offer for sales (OFS) component of the public issue. 

SoftBank’s SVF Frog (Cayman) Ltd holds over 12.4 Cr shares or a 25% stake in the company.

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