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SoftBank sells shares worth $310 mn in FirstCry

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FirstCry refiles papers for IPO to raise Rs 1,816 crore
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26 Dec 2023 8:15 AM IST

New Delhi: Japanese conglomerate SoftBank has sold shares worth $310 million in omnichannel retailer FirstCry, which is likely to file a draft paper for IPO this week, sources said on Monday. "SoftBank recently sold shares worth Rs 630 crore in FirstCry.

It was picked up by a few high net worth individuals. With this sale, SoftBank has realised $310 million from two rounds of stake sale in FirstCry," a source said. The source said that the sale values FirstCry in the range of $3.5-3.75 billion. SoftBank had invested $400 million in FirstCry at an enterprise valuation of $900 million.

Another source said that SoftBank is still left with shares valued in the range of $800-900 million which it will sell later. "SoftBank is looking to make around $1.3 billion from the investment made in FirstCry," the source said. Email query sent to SoftBank elicited no response in this regard.

SoftBank FirstCry IPO Stake Sale Japanese Conglomerate High Net Worth Individuals Enterprise Valuation Investment IPO Filing 
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