Firstcry plans to launch IPO in 2022

E-commerce firm Firstcry, which offers baby care products has said that it planning to launch its Initial Public Offering (IPO), this year. It has sought the services of investment bankers Kotak Mahindra and Morgan Stanley along with others to discuss its IPO launch. A source on account of anonymity said: “The work has begun for the IPO. FirstCry is aiming to go public this year but the size of the issue is not yet finalized. It would be a mix of primary share sales as well as offer for sale (OFS), where the new funding would be used for M&As (mergers and acquisitions). For FirstCry, an IPO would only happen in the second half of the year and the froth would settle by then.”. Firstcry recently raised $240 million in its second-round funding. The major shareholder of Firstcry is SoftBank which holds around a 30% stake in the company.