Firstcry sets IPO price band at Rs 440-465

MUMBAI: Softbank, Ratan Tata and Sachin Tendulkar backed Firstcry, which claims to be the market leader in the ecommerce space catering to women and children, but has not made a single penny in profits in its 14 years of operations, has fixed the price band for its Rs 4,200 crore issue at a hefty Rs 440-465/piece.

The Pune-based ecommerce firm but with significant offline presence with over 1,000 stores had been heavily losing money since its inception in 2010 and had Rs 321.51 crore net loss in FY24, down from Rs 486 crore in FY23 when it had revenue of Rs 6,481 crore and Rs 5,632.5 crore, respectively. The issue opens on August 6 with the floor price at 220 times and the cap price is 232.5 times the face value of the shares for a company that’s heavily in debt.

Like in the case of Ola Electric, which is in IPO process now, because of the issue pricing some of the investors like Tata will gain manifold, others like Tendulkar and Rajan Pai on Manipal will lose heavily.