Firstcry is a baby and mother care products selling e-commerce startup. The startup announced its  plans to file for Initial Public Offering papers worth $3.5 billion this week. The report by ET mentioned  that the company is expected to file its red herring Prospectus for an IPO. This filing values the  omnichannel Marketplace at 3 to 3.5 billion USD. The startup will launch IPO for subscription officially  from this week till August 14. 

The e-commerce startup received strong interest from institutional investors for its anchor book. Last  month, the company received approval from the Securities and Exchange Board of India for its initial  public offerings. However, the offer size by the company remained unchanged with its draft Initial  Public Offerings papers reaching the total primary fundraising mark of Rs 1,816 crore. The Initial public  offering will also have an offer-for-sale component of 54 million shares. Under this OFC component  shareholders including Premji Invest, Softbank, and TPG Growth will offload the equity shares.  

The firm was founded by Maheshwari and Amitava Saha in 2010. The startup offers an omnichannel  marketplace and sells its baby and kids’ care products through online websites and mobile  applications. Firstcry has secured over 700 million USD since its inception via multiple funding rounds.  The existing investors of the company include SoftBank, vertex Ventures, and ChyrsCapital. The source  close to the deal told ET that the company has been conducting secondary funding for the last few  years so that existing investors can exit. The company planned to use the IPO proceeds to establish  more warehouses and stores while expanding its services into Saudi Arabia. 

The Pune startup reported its operating revenue to be around Rs 4,814 crore in the first nine of this  financial year. The company noticed losses of around Rs 278.2 crore in FY24. Firstcry had a valuation  of around 2.8 billion USD in its last private funding round. The company announced that its gross sales  were around Rs 5,650, and 77 percent of these sales were from online platforms. FirstCry also filed for  its first draft Red Herring Prospectus in December last year. The Securities and Exchange Board of India  marked some of the key indicators missing from the draft leading to the delay in filing. Following this  the startup re-filed for its draft papers in April this year. 

Conclusion: 

FirstCry provides Baby care and kids-related products through its omnichannel network. The company  is looking to file papers for its IPO of 3.5 million USD this week. The e-commerce startup received  approval for its Initial Public Offering from the Security Exchange Board of India last month. The startup  operates omnichannel distribution networks and offers its service through an online website and  mobile applications. The company has raised more than $700 million across all its funding rounds to  date. Due to missing key indicators last year, the company is re-filing for its IPO this year as it failed to  get approval. First Cry sells a wide range of products for babies, kids, and moms.