FirstCry, the leading baby and kids products retailer in India, is gearing up for its initial public offering (IPO). Here’s a comprehensive overview of what you need to know:

About FirstCry:

  • Founded in 2010 by Supam Maheshwari and Ankit Khanna, FirstCry has grown into a leading omnichannel platform, offering a wide range of baby and kids products through online and offline channels.
  • The company operates over 350 brick-and-mortar stores across 125 cities in India and also sells through its website and mobile app.
  • FirstCry offers a diverse selection of products, including apparel, toys, feeding essentials, diapers, furniture, and more.
  • It also has a strong presence in the premium segment with brands like Mothercare, Benetton, and Lego.

IPO Details:

  • Parent company: Brainbees Solutions, the parent company of FirstCry, filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on December 28, 2023.
  • Issue size: The IPO comprises a fresh issue of equity shares worth ₹1,816 crore and an offer for sale (OFS) by existing investors and promoters.
  • Valuation: FirstCry is aiming for a valuation of around $3.5-3.75 billion, slightly higher than its last fundraising valuation of $3 billion.
  • Existing investors: Notable existing investors who are planning to sell shares in the OFS include Mahindra & Mahindra, TPG, NewQuest Asia, and SoftBank.
  • Use of proceeds: The company plans to utilize the IPO proceeds for expanding its omnichannel presence, enhancing its technology infrastructure, and funding potential acquisitions.

Key Financials:

  • Revenue: FirstCry’s consolidated revenue for FY23 was ₹5,632 crore, a significant increase of 135% from the previous year.
  • Profitability: The company is still making losses, but the net loss narrowed down from ₹78.68 crore in FY22 to ₹486.05 crore in FY23.

Market Outlook:

  • The Indian baby and kids products market is expected to grow at a CAGR of 12.5% over the next five years, driven by factors such as rising disposable incomes, increasing urbanization, and growing awareness about child care.
  • FirstCry is well-positioned to capitalize on this growth with its strong brand recognition, omnichannel presence, and wide product portfolio.

Things to Consider:

  • While the FirstCry IPO offers an opportunity to invest in a growing market leader, it’s important to carefully consider the company’s financials, valuation, and future prospects before making an investment decision.
  • The company’s profitability concerns and the overall volatility of the Indian stock market are additional factors to be mindful of.

Overall, the FirstCry IPO is a noteworthy event in the Indian startup ecosystem. The company’s strong brand, promising market outlook, and ambitious growth plans make it an interesting proposition for investors. However, a thorough evaluation of the risks and rewards involved is crucial before making any investment decisions.

Please note that the IPO dates and price band are not yet announced. This information will be available closer to the IPO launch.

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