NEW DELHI: Japanese conglomerate SoftBank has offered shares price USD 310 million in omnichannel retailer FirstCry, which is more likely to file a draft paper for IPO this week, sources mentioned on Monday. “SoftBank not too long ago offered shares price Rs 630 crore in FirstCry. It was picked up by a couple of excessive internet price people. With this sale, SoftBank has realised USD 310 million from two rounds of stake sale in FirstCry,” a supply advised PTI.
The supply mentioned that the sale values FirstCry within the vary of USD 3.5-3.75 billion.
SoftBank had invested USD 400 million in FirstCry at an enterprise valuation of USD 900 million.
One other supply mentioned that SoftBank remains to be left with shares valued within the vary of USD 800-900 million which it can promote later.
“SoftBank is seeking to make round USD 1.3 billion from the funding made in FirstCry,” the supply mentioned.
E mail question despatched to SoftBank elicited no response on this regard.
The supply mentioned that the sale values FirstCry within the vary of USD 3.5-3.75 billion.
SoftBank had invested USD 400 million in FirstCry at an enterprise valuation of USD 900 million.
One other supply mentioned that SoftBank remains to be left with shares valued within the vary of USD 800-900 million which it can promote later.
“SoftBank is seeking to make round USD 1.3 billion from the funding made in FirstCry,” the supply mentioned.
E mail question despatched to SoftBank elicited no response on this regard.
)
