FirstCry IPO: Planning to invest? Know key risks involved in the upcoming issue
₹1,816 crore as well as an offer for sale by existing shareholders and promoters. Existing investors, including Mahindra & Mahindra (M&M), private equity firm TPG, NewQuest Asia, and SoftBank, are planning to collectively sell 5.44 crore shares in Brainbees through an Offer for Sale (OFS) alongside the primary issue.
According to the document, Mahindra will sell its 0.58 percent stake in the parent company; SoftBank will offload 2.03 crore shares. The official dates of the upcoming issue has not been announced yet, however, several media reports claim that the public issue will open in early 2024.
The offer price for the issue and IPO price band have also not been announced so far. As per the DRHP, net proceeds will be used to set up new retail stores, warehouses and international expansion.
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