Ratan Tata to sell all 77,900 shares in FirstCry at an average cost of ₹84.72 per share

Ratan Tata, who initially invested ₹66 lakh for a 0.02 per cent stake in FirstCry, is planned to sell all 77,900 shares at an average cost per share of ₹84.72, as per draft red herring prospectus filed with SEBI on Thursday.

issue fresh shares worth ₹1,816 crore, while existing investors will offload 54.39 million shares through Offer For Sale, according to the DRHP.

Who else are selling shares before FirstCry IPO?

Among the key sellers in the OFS are SoftBank's SVF Frog (Cayman) with 20.3 million shares, followed by Mahindra & Mahindra with 2.8 million shares, PI Opportunities Fund-1 with 8.6 million shares, TPG Growth V SF Markets Pte. with 3.9 million shares, and NewQuest Asia Investments with 3 million shares.

Other sellers are Apricot Investments with 2.5 million shares, Valiant 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.

Firstcry co-founder Supam Maheshwari is also among individual shareholders offloading his shares.

How will FirstCry use the IPO proceeds?
FirstCry intends to utilise the Net Proceeds for the following purposes:

1. Expenditure for:

• Setting up new stores, warehouse

• Lease payments for existing identified stores in India

2. Investment in subsidiary, FirstCry Trading, for overseas expansion by:

• Setting up new warehouses and stores in Saudi Arabia

3. Investment in Globalbees Brands, towards the acquisition of an additional stake in indirect subsidiaries.

4. Sales and marketing initiatives

5. Technology and data science costs, including cloud and server hosting-related expenses.

6. Funding inorganic growth through acquisition and other strategic initiatives, and general corporate purposes.

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