SoftBank-Backed FirstCry To File IPO Papers By December-End

SoftBank-Backed FirstCry To File IPO Papers By December-End

SUMMARY

The ecommerce unicorn is expected to file its draft red herring prospectus with the markets regulator SEBI before December 29

While the valuation has not yet been finalised, FirstCry could be pegged at around $4 Bn during the IPO

After reporting a profit in FY21, FirstCry slipped into the red with a net loss of INR 78.7 Cr in FY22

Amid the ongoing boom in the IPO market, SoftBank-backed ecommerce unicorn FirstCry is reportedly looking to file its draft red herring prospectus (DRHP) in a few days. It is aiming to raise $500 Mn-$600 Mn from the IPO.

People in the know of the matter told the Economic Times that while the valuation has not yet been finalised, the startup could be pegged at around $4 Bn during the IPO.

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