The 86-year-old Tata, who had bought 0.02% stake in SoftBank and Premji Invest-backed firm for Rs 66 lakh in 2016, has offered to sell all his 77,900 shares in the IPO.
His average cost of acquisition comes to Rs 84.72 per share, according to the red herring prospectus (RHP). Tata’s total investment in the company, therefore, comes to about Rs 66 lakh.
In the past, the legendary industrialist, who led the Tata Group for decades and is now the Chairman Emeritus of Tata Sons, has acted as an angel investor for scores of startups like eyewear retailer Lenskart, digital payments brand Paytm, electric vehicle startup Ola Electric Mobility and online stock trading platform Upstox.
On the other hand, cricketing legend Sachin Tendulkar and several other investors who invested in FirstCry last year will see the value of their holding go down in the IPO.In October 2023, Sachin Tendulkar and his wife Anjali bought 205,153 shares of the unicorn at Rs 487.44 per share. His total investment of Rs 10 crore will be worth about Rs 9.5 crore, a notional loss of around 5%. Share prices, however, can go up and down post listing.FirstCry IPO, which includes a fresh issue of Rs 1,666 crore and an offer for sale (OFS) of up to 5.4 crore shares by existing shareholders like M&M and SoftBank, opens for public subscription on August 6 and will end on August 8. The stock is likely to list on August 13.In FY24, the company reported a 15% growth in operating revenue at Rs 6,481 crore, while it reduced losses by 34% to Rs 321 crore during the same period. Over the last three financial years, the company’s revenue from operations has grown to 6,481 crore for FY24 from Rs 2401 crore FY 2022. Brainbees said it is the largest multi-channel retailing platform for mothers’, babies’ and kids’ products, in terms of GMV, for FY24.
Mahindra & Mahindra (M&M) plans to sell up to 28.06 lakh shares of the company in the IPO. SoftBank-operated SVF Frog will sell 20,318,050 shares. FirstCry Co-Founder and CEO Supam Maheshwari is also offloading stake in the IPO.
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