FirstCry Re-Files IPO Papers, Issue Size Remains Unchanged; Details [Video]

FirstCry IPO: BrainBiz Solutions Ltd., the parent company of online e-commerce platform FirstCry, has re-filed preliminary papers with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO), according to an update from the markets regulator on Monday. The regulator had earlier directed the company to re-file the draft papers citing inadequate disclosure of key performance indicators (KPIs), market sources said.

The company’s key performance indicators include its number of orders, average order value, and annual transacting customers. According to the latest draft red herring prospectus (DRHP), the size of the Pune-based company’s IPO remains unchanged. Its proposed IPO is a combination of a fresh issue of equity shares worth up to Rs 1,816 crore and an offer for sale (OFS) of up to 5.44 crore equity shares by existing shareholders.

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