E-commerce startup FirstCry is in search of to boost $218 million by problem of recent shares in its preliminary public providing, the 13-year-old startup stated in a draft prospectus filed with the market regulator Thursday, turning into the most recent Indian startup to discover the general public markets.
FirstCry earlier sought to boost as a lot as $700 million in its Mumbai IPO, however deterred the plan because the market situations worsened.
Brainbees Options, the mother or father agency of online baby product marketplace FirstCry, stated 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 response to an individual accustomed to the matter. FirstCry stated it hadn’t set the value in its draft prospectus.
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