First Cry IPO: Ratan Tata will sell his entire stake in FirstCry! Know what plan the company has made
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First Cry IPO: Ratan Tata, former chairman of India’s largest industrial house Tata Group (Ratan Tata) of e-commerce company FirstCry Are going to sell their entire stake in the upcoming IPO. He founded Brainbees Solutions (Brainbees Solutions) for Rs 66 lakh in 2016. Bought 0.02 percent stake in the company. According to the draft red herring prospectus filed with SEBI, Tata plans to sell all 77,900 shares at an average price of ₹84.72 per share. According to the DRHP, the online retailer’s parent company Brainbees will issue new shares worth ₹1,816 crore. Whereas existing investors will sell 54.39 million shares through Offer for Sell.
Who else is selling shares before FirstCry IPO?
Major sellers in the OFS included SoftBank’s SVF Frog (Cayman) with 20.3 million shares, Mahindra & Mahindra with 2.8 million shares, PI Opportunities Fund-1 with 8.6 million shares, TPG Growth v SF Markets with 3.9 million shares, and NewQuest Asia Investments is to join with 3 million shares. Other sellers included Apricot Investments with 2.5 million shares, Valeant Mauritius Partners with 2.4 million shares, TIMF Holdings (Mauritius) with 8.37 million shares, Think India Opportunities with 8.37 million shares and Schroders Capital with 6.16 million shares. Are included. FirstCry co-founder Supam Maheshwari is also among the individual shareholders who sold their shares.
How will the company use the funds received from FirstCry IPO?
According to FirstCry’s market filing, the company is going to use the money received from the market by dividing it into three categories. Its main objective is to open new stores and promote international trade. According to the company, it will use its money like this.
• Setting up new stores, warehouses
• Lease payments for existing identified stores in India
• Investment in subsidiary FirstCry Trading for overseas expansion
• Establishing new warehouses and stores in Saudi Arabia
• Sales and marketing initiatives
• Technology and data science costs, including cloud and server hosting-related expenses.
• Funding inorganic growth through acquisitions and other strategic initiatives and general corporate objectives.
what is ipo
The full name of IPO is Initial Public Offering. It is a financial process in which a private company decides to issue an offer of its stock to investors in the open market. This is the first time for the company when it goes to sell its shares in the open market. When a company issues an IPO, it publicizes its shares and gives investors the opportunity to buy its shares. Through IPO, the company makes its stock available to investors through public and news media so that they can buy it. Through IPO, the company mostly tries to attract new investors for its stock and through this the company collects most of the capital to fulfill its development and financial plans. This is an attractive option for investors because it offers them the opportunity to own a public company.
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