FirstCry refiles draft IPO papers; posts ₹4,814 cr revenue in Apr-Dec, loses widen
₹4,162 crore). While fresh issue of shares will account for $218 million ( ₹1,815 crore), the rest will come from an offer for sale. Investors who are putting up their shares for sale include TPG Growth, Premji Invest, Softbank Group and Mahindra & Mahindra.
In the nine months ended December 2023, the online retailer logged a revenue of ₹4,814 crore, with a loss of ₹278.20 crore. Total expenses for the period stood at ₹5,159.7 crore. Also Read: FirstCry IPO: CEO Supam Maheshwari sold 6.2 million shares before filing DRHP In the year ended March 2023, FirstCry’s loss ballooned to ₹483.5 crore, from ₹77.60 crore compared to the year-ago period.
Under key performance indicators, the firm said it logged 25.36 million orders in the nine months ending December 2023, while average order value was ₹2,228. GMV for the period was ₹5,650.7 crore. The fresh issue will fund new stores, warehouse construction, lease payments, Saudi Arabian expansion, subsidiary investments, marketing, technology, and potential acquisitions.
The company has appointed Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India, JM Financial and Avendus Capital as managers to the issue. Also Read: FirstCry IPO: Planning to invest? Know key risks involved in the upcoming issue The company, launched in India in 2010 has an app and website, and a vast network of modern stores. The company's brand portfolio features over 6,800 labels, encompassing popular Indian brands, globally recognized names, and its in-house lines, it said.Milestone Alert!
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