Three Indian family offices have picked up a Rs 435 crore stake in FirstCry, the online baby and kids products retailer that is gearing up for an initial public offering (IPO).

The family offices are Manipal Group’s Ranjan Pai’s MEMG Family Office, Marico’s Harsh Mariwala’s investment office Sharrp Ventures, and Hemendra Kothari’s DSP family office.

The investment was made by the family offices through a secondary transaction from SoftBank, which is the largest shareholder in FirstCry. SoftBank has been divesting its stake in FirstCry in recent months as part of a broader plan to reduce its exposure to the Indian startup ecosystem.

FirstCry is expected to file its IPO papers by the end of this year. The company is seeking to raise about Rs 1,000 crore through the IPO.

The investment by the three Indian family offices is a sign of the growing confidence in the Indian startup ecosystem. The family offices are some of the most sophisticated investors in the country, and their investment in FirstCry is a vote of confidence in the company’s growth prospects.

FirstCry is one of the leading online baby and kids products retailers in India. The company was founded in 2010 by Supam Maheshwari and Amrish Mittal. FirstCry has raised over $1 billion in funding from investors such as SoftBank, Premji Invest, and TPG Growth.

The company’s IPO is expected to be one of the largest in India this year. The IPO is likely to be well-received by investors, given the strong growth prospects of the online baby and kids products market in India.

Here are some of the key takeaways from the news:

  • Three Indian family offices have picked up a Rs 435 crore stake in FirstCry.
  • The investment was made by the family offices through a secondary transaction from SoftBank.
  • FirstCry is expected to file its IPO papers by the end of this year.
  • The investment by the three Indian family offices is a sign of the growing confidence in the Indian startup ecosystem.
  • FirstCry is one of the leading online baby and kids products retailers in India.
  • The company’s IPO is expected to be one of the largest in India this year.

Here are some of the implications of the news:

  • The investment by the three Indian family offices is a vote of confidence in the growth prospects of FirstCry.
  • The IPO of FirstCry is likely to be well-received by investors, given the strong growth prospects of the online baby and kids products market in India.
  • The IPO of FirstCry will be a major milestone for the Indian startup ecosystem.