SoftBank-backed FirstCry set to file for IPO, eyes $500-600 million raise
After last year’s postponement, omnichannel retailer FirstCry is looking to file its draft IPO papers in the next few days, said people with knowledge of the matter. It is aiming to raise $500-600 million. While valuation has not been finalised yet, it may be pegged at around $4 billion during the initial public offering (IPO), said the people on condition of anonymity. FirstCry was last valued at under $3 billion.
The draft red herring prospectus (DRHP) is likely to be filed with the regulator before December 29 and the listing is expected to take place after the April-May general elections next year, said one of the persons.
