SoftBank and others might trim FirstCry's stake at higher valuation of ~$4 billion

10 Aug 2022 , 09:33 AM

Existing investors SoftBank and NewQuest Capital Partners from Japan are among those looking to sell FirstCry shares in the secondary market. These investors value the baby products shop at $3.5 to $4 billion.

With a 29% investment, Masayoshi Son-led SoftBank is the omnichannel company’s largest investor. It wants to cut that stake to under 25%.

The negotiations are taking place as the Pune-based company prepares to file its initial public offering (IPO) paperwork in the coming months while also trying to reduce its foreign ownership and increase local private equity capital. However, FirstCry has spoken with the private equity firm Kedaara Capital, which is based in Mumbai, to invite it to take part in the second round.