New Delhi: Japanese Group softbank has sold shares Worthy $310 million in omni-channel retailer firstcrywho is likely to file a draft paper For IPO This week, sources said on Monday.
“SoftBank recently sold shares FirstCry is valued at Rs 630 crore. It was raised by some high net worth individuals. With this sale, SoftBank has realized $310 million from the two rounds of stake sales in FirstCry,” said a source.
The sale values FirstCry at between $3.5-3.75 billion, the source said. SoftBank had invested $400 million in FirstCry at an enterprise valuation of $900 million. Another source said SoftBank still has $800-900 million worth of shares left, which it will sell later.
An email query sent to SoftBank did not elicit any response.
“SoftBank recently sold shares FirstCry is valued at Rs 630 crore. It was raised by some high net worth individuals. With this sale, SoftBank has realized $310 million from the two rounds of stake sales in FirstCry,” said a source.
The sale values FirstCry at between $3.5-3.75 billion, the source said. SoftBank had invested $400 million in FirstCry at an enterprise valuation of $900 million. Another source said SoftBank still has $800-900 million worth of shares left, which it will sell later.
An email query sent to SoftBank did not elicit any response.