E-commerce startup FirstCry is looking for to lift $218 million via subject of contemporary shares in its preliminary public providing, the 13-year-old startup mentioned in a draft prospectus filed with the market regulator Thursday, changing into the newest Indian startup to discover the general public markets.
FirstCry earlier sought to lift as a lot as $700 million in its Mumbai IPO, however deterred the plan because the market situations worsened.
Brainbees Solutions, the father or mother agency of on-line child product market FirstCry, mentioned that some traders together with SoftBank. NewQuest and TPG plan to promote some shares. The startup is eyeing a valuation of about $4 billion, down from earlier $6 billion ambitions, in line with an individual accustomed to the matter. FirstCry mentioned it hadn’t set the worth in its draft prospectus.
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