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    MAY HER SOUL REST IN PEACE 🙏 Veteran entertainment columnist and talent manager Lolit Solis has passed away. She was 78 years old. https://tinyurl.com/6kumarkx | LatestChika.com – Facebook

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    MAY HER SOUL REST IN PEACE 🙏 Veteran entertainment columnist and talent manager Lolit Solis has passed away. She was 78 years old. https://tinyurl.com/6kumarkx | LatestChika.com – Facebook

    Beloved Entertainment Icon Lolit Solis Passes Away at 78 – A Life Remembered with Love and Respect 🙏

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    A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

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IPO-bound FirstCry reports 15% jump in FY24 revenue

July 31, 2024
in Business
IPO-bound FirstCry reports 15% jump in FY24 revenue
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IPO-bound FirstCry reported a 15% growth in operating revenue at Rs 6,481 crore in FY24 while it reduced losses by 34% to Rs 321 crore during the same period, per regulatory filings sourced through business intelligence platform Tofler.

Globalbees—its ecommerce roll-up subsidiary—reported Rs 1,209 crore in revenue, contributing 18% to the parent’s revenue.

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FirstCry’s international business—the Middle East—is seeing faster growth than domestic operations. Its parent firm Brainbees Solutions’ 70% revenue comes from India while the rest is from overseas. FirstCry’s international business reported a revenue of Rs 753 crore, growing by over 50%.

FirstCry_A snapshot_Graphic_28_July 2024_ETTECHETtech

From the IPO proceeds, a significant part of the capital will be used for expansion in Saudi Arabia, the company had mentioned in its revised draft red herring prospectus (DRHP) in April.

Pune-based FirstCry is expected to file final IPO papers this week and list on the bourses before Independence Day, ET reported on July 29.

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The SoftBank and Premji Invest-backed firm is likely to raise $217 million (Rs 1,816 crore) via primary fundraise besides having an offer-for-sale for 54 million shares from investors and founders of the firm. SoftBank Vision Fund, Premji Invest, Mahindra Retail, TPG Growth and others will be part-divesting through the OFS.

Last valued at under $3 billion, Supam Maheshwari-led FirstCry is likely to price itself at around $3 billion for its public issue, people aware of the deliberations have told ET.

The omnichannel retailer runs a network of 1,018 FirstCry and BabyHug stores in 508 cities. It owns 386 and the rest are franchises. Pine Kids, Cute Walk and Babyoye are among its in-house brands.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : The Economic Times of India – https://economictimes.indiatimes.com/tech/technology/ipo-bound-firstcry-reports-15-jump-in-fy24-revenue-at-rs-6481-crore-losses-down-34/articleshow/112158764.cms

Tags: businessFirstCryIPO-bound
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