Anjan Pai, the Chairman of Manipal Group, is reportedly in advanced discussions to invest Rs. 250 crore in the prominent mom and babycare brand, FirstCry. The investment is part of a secondary share sale at a valuation of US $ 3 billion, according to reports
FirstCry, based in Pune, is gearing up to go public in the coming year. The company had previously postponed its IPO due to market volatility and the challenges faced by IPOs in recent times. However, the brand has now set its sights on a potential IPO, with this infusion of capital likely to bolster its financial position.
In addition to Anjan Pai’s investment, other institutional investors are reportedly in the process of acquiring a secondary stake in FirstCry. This move aligns with the company’s strategy to secure additional capital and strengthen its position in the market, considering the rising demand for mom and baby care products. Moreover, the share sale is likely to cross Rs. 500 crore.
