FirstCry to resubmit IPO papers following Sebi directive

FirstCry, a leading omnichannel retailer specializing in baby and mother care products, is poised to resubmit its draft initial public offering (IPO) papers to the Securities and Exchange Board of India (Sebi) following concerns raised by the regulator regarding insufficient disclosure in key performance indicators (KPIs).
Sources familiar with the matter revealed that the SoftBank-backed company intends to address these concerns by revising its filings and incorporating updated financial data as of March 2024.
Sebi's insistence on comprehensive KPI disclosures reflects a broader trend of regulatory vigilance, particularly in the wake of recent instances where IPOs from new-age firms have led to retail investor apprehension due to inadequate KPI transparency.
Notably, this development aligns with a string of IPO filings by prominent companies like Ola Electric and Awfis, alongside SoftBank-backed Swiggy's imminent public offering.
FirstCry's anticipated IPO, potentially valued at $500 million, hinges on the valuation it sets for itself. With plans for international expansion and infrastructure development, the company aims to leverage the fresh capital infusion to bolster its presence and offerings in the burgeoning market for baby and mother care products.