NEW DELHI: Japanese conglomerate SoftBank has bought shares price $310 million in omni-channel retailer FirstCry, which is more likely to file a draft paper for IPO this week, sources mentioned on Monday.
“SoftBank just lately bought shares price Rs 630 crore in FirstCry. It was picked up by a couple of excessive net-worth people. With this sale, SoftBank has realised $310 million from two rounds of stake sale in FirstCry,” a supply mentioned.
The supply mentioned the sale values FirstCry within the vary of $3.5-3.75 billion.SoftBank had invested $400 million in FirstCry at an enterprise valuation of $900 million. One other supply mentioned SoftBank remains to be left with shares valued within the vary of $800-900 million, which it can promote later.
An emailed question despatched to SoftBank didn’t elicit any response.
“SoftBank just lately bought shares price Rs 630 crore in FirstCry. It was picked up by a couple of excessive net-worth people. With this sale, SoftBank has realised $310 million from two rounds of stake sale in FirstCry,” a supply mentioned.
The supply mentioned the sale values FirstCry within the vary of $3.5-3.75 billion.SoftBank had invested $400 million in FirstCry at an enterprise valuation of $900 million. One other supply mentioned SoftBank remains to be left with shares valued within the vary of $800-900 million, which it can promote later.
An emailed question despatched to SoftBank didn’t elicit any response.
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