FIRSTCRY
Swara Baby gets Sebi nod for Rs 1,000 crore IPO as hygiene products maker eyes expansion
Swara Baby Products has received approval from Sebi to proceed with its Rs 1,000 crore IPO. The IPO includes a fresh issue of equity shares and an offer for sale by promoters. Proceeds will be used for expanding a manufacturing facility and repaying borrowings among other corporate purposes. Founded in 2018, Swara Baby manufactures a range of disposable hygiene products for different consumer needs.
Listed startups unlock Rs 25,000 crore for VC, PE investors
An ET analysis of National Stock Exchange (NSE) and BSE block and bulk deal disclosures across 18 new-age companies shows sales by investors including Japan’s SoftBank group and venture capital firms Peak XV Partners, Elevation Capital and Accel.
Vertex in funding talks with RapidCanvas, Supernova to sharpen AI focus: Sources
The investor is looking to sharpen its focus on AI after consumer investments in India, they said. Vertex is likely to invest around $20 million, along with existing investors, while a new investor may also come on board, the people added.
Ahead of Market: 10 things that will decide stock market action on Tuesday
Indian equities plunged on Monday as the Sensex fell 1,124 points and Nifty dropped over 360 points, wiping out nearly Rs 8 lakh crore in market value. Surging oil prices, bond yields, geopolitical tensions and rate-hike concerns drove broad-based selling.
New indicator for New India: 25 stocks whose numbers can reveal what is in store for the economy and the stock market
For decades, there was a familiar way to understand the Indian consumer. Economists waited for GDP, industrial production, inflation, credit growth and other official numbers, and then used them to work out whether households were spending more or pulling back. Those indicators still matter. But the Indian consumer has changed faster than the dashboard used to track consumption and spending patterns. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. SR+ Reports is a complimentary offering to ETPrime members.
India's festive shopping about to change as robots lend helping hand
This year's festive shopping in India is gearing up for a transformation as AI tools take center stage. With many intending to spend above ₹10,000, buyers are leaning towards premium purchases. Millennials exhibit a stronger affinity for AI recommendations than GenZ shoppers. In addition, Tier 2 city consumers are emerging as an essential demographic with robust budgets, with apparel and footwear forecasted as the top purchases during this festive time.
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Ahead of Market: 10 things that will decide stock market action on Tuesday
Indian equities recovered sharply from Friday’s lows as easing oil prices and bond yields lifted sentiment. Sensex and Nifty closed lower, while weak breadth, foreign outflows and geopolitical risks kept bears in control despite selective buying and resilient domestic fundamentals.
India’s listed new-age cos hit $165 billion market cap as IPO wave expands universe
India’s 50 listed, institutionally backed new-age companies are now worth $165 billion, but performance remains sharply divided. A growing listed universe is giving venture investors clearer exit routes and private companies more valuation benchmarks. Public-market discipline is also influencing late-stage funding and forcing companies such as PhonePe and Zepto to rethink IPO valuations.
New-age stocks take off; Swiggy goes Indian
Happy Wednesday! India’s new-age companies are gaining ground in public markets as more startups go public. This and more in today’s ETtech Morning Dispatch.
New-age firms cushion Q1 raw material, diesel cost shock with price hikes, efficiencies
New-age consumer and logistics firms managed cost increases during the April-June quarter. Strong sales growth and selective price hikes helped limit margin impacts for many companies. Honasa Consumer's gross margin declined slightly, while Wakefit saw an increase due to price adjustments. Logistics firms like Delhivery largely passed on diesel cost rises through contracts.
Behind the Uber-Rapido merger talks; Honasa’s strong Q1 report
Happy Friday! Uber and Rapido explored combining their India ride-hailing operations in May, sources told us. This and more in today’s ETtech Morning Dispatch.
Infra.Market’s backdoor listing; Honasa posts record profit
Infra.Market is set to enter the public markets through a reverse merger with Shalimar Paints. This and more in today's ETtech Top 5.
FirstCry reports 13% growth in revenues, cuts losses by 34% in Q1
The company’s expenses rose 12% YoY to Rs 2,046 crore from Rs 1,829 crore a year earlier, led by higher stock-in-trade purchases and other operating expenses, while employee benefit costs remained broadly stable.
New-age firms' listing gains fade fast; IT deal renewal in focus
Happy Thursday! Some of the best-received new-age IPOs are now trading below their issue price, ET analysis shows. This and more in today’s ETtech Morning Dispatch.
New-age IPOs: Listing-day performance proves poor guide to long-term gains
Seven of 17 new-economy stocks that debuted at a premium to their issue prices now trade below them, an ET analysis of 27 companies showed. Four of the seven stocks that opened below their issue prices have since moved above them. The remaining three opened at their issue prices.
FirstCry shares in focus ahead of Rs 300 crore Swara Baby stake sale via IPO
Brainbees Solutions, the parent of FirstCry, will see its shares in focus after approving a Rs 300 crore offer for sale (OFS) in its subsidiary Swara Baby's upcoming IPO. Swara Baby, a contract manufacturer of hygiene products, plans to raise up to Rs 1,000 crore.This move comes as FirstCry's financial performance shows narrowed losses and revenue growth.
FirstCry shares fall 3% after Q1 results show wider sequential loss
Shares of Brainbees Solutions, parent company of FirstCry, fell nearly 3% to Rs 624 on the BSE following its June quarter results. The company reported a narrower consolidated net loss of Rs 57 crore for the quarter ended June 30, 2024, compared to Rs 90 crore in the same period last year. Revenue from operations increased by 17% to Rs 1,652 crore from Rs 1,407 crore YoY.
FirstCry shares to debut on Tuesday. Here's what GMP indicates
At the upper price band of Rs 549, FirstCry's stock is expected to list at an 18% premium to the issue price. The IPO was oversubscribed by over 12 times on the final day. Before the issue opened, the company raised Rs 1,886 crore from 71 anchor investors, including SBI Mutual Fund, ICICI Prudential, HDFC Mutual Fund, Kotak Mahindra, Government of Singapore, ADIA, and Goldman Sachs.
FirstCry IPO share allotment likely soon: Check status, GMP, listing date and other details
FirstCry's IPO share allotment anticipated to be finalised soon. Investors can check their allotment status on the BSE or Link Intime India's site.
FirstCry IPO opens on Tuesday: Price band, GMP among 10 things to know before subscribing
First cry IPO Latest News: Firstcry is expanding its presence in international markets. The company offers its products through a diverse range of channels, including its online platform, company-owned stores, franchises, and traditional retail distribution within India.
IPO-bound FirstCry's CEO Supam Maheshwari offloads shares worth Rs 300 crore: Report
Supam Maheshwari, cofounder and CEO of mother and child care e-commerce platform FirstCry has reportedly offloaded 6.2 million shares prior to filing for the company's initial public offer (IPO).
FirstCry files IPO papers to raise Rs 1,816 crore. SoftBank, Mahindra & Mahindra to sell stake
FirstCry IPO: Firstcry's parent Brainbees Solutions will sell shares worth Rs 18.16 billion ($218 million) and existing investors, including SoftBank, will sell up to 54.4 million shares.
SoftBank-backed FirstCry set to file for IPO, eyes $500-600 million raise
FirstCry will be the second Indian vertical e-commerce platform to go public after Nykaa’s IPO in 2021. The Pune-headquartered company specialises in selling products for kids and mothers across online and offline formats.
India’s tax department investigating FirstCry founder for alleged $50 million tax evasion
India's tax department is investigating the founder of unicorn FirstCry.com on charges of evading taxes to the tune of $50 million. Sources said at least six investors in FirstCry, including private equity firm ChrysCapital Management Co and Sunil Bharti Mittal’s family office, have also received enquiries related to the matter.
Exclusive: Manipal Group’s Ranjan Pai in talks for stake in FirstCry
Pai is expected to invest around Rs 250 crore in the ecommerce firm as part of a broader secondary share sale at FirstCry at a valuation of close to $3 billion, sources said.
FirstCry’s NIIF deal falls through; Premji Invest to buy the stake
The development comes at a time when FirstCry has also begun work to go public later this year. It appointed Kotak Mahindra Capital and Morgan Stanley for its IPO and is in discussions with other bankers too, ET reported on February 18.
India's sovereign wealth fund invests in FirstCry; SoftBank, others offload stake in secondary deal
Chiratae Ventures and Newquest Capital Partners have also sold parts of their holding in the company. SoftBank will still have around 30% in FirstCry parent Brainbees Solutions post this funding, people briefed on the matter said.
FirstCry in talks to raise up to $200 million at nearly $2 billion valuation
FirstCry, which is in funding talks with TPG Growth, Premji Invest and ChrysCapital, aims to go for listing in 24-36 months and wants to realign its capitalisation table before that.
Exclusive: FirstCry's early investors look to sell stake at $2.1 billion valuation
The valuation being ascribed to BrainBees Solutions (FirstCry) is almost double of its previous funding round in 2019.
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