FirstCry's IPO, backed-by Softbank, will be hitting the primary market on August 6. Check out who gets to gain big
Indian Cricket Legend Sachin Tendulkar, Family offices of Harsh Mariwala’s Marico, Manipal Group’s Ranjan Pai and Fireside Ventures founder Kanwaljit Singh will face a loss of up to 10 per cent in shares they bought in the IPO-bound e-commerce unicorn FirstCry. This is as per a report by Moneycontrol.
Reportedly, they would refrain from selling their shareholding in the IPO as the price band for the company’s IPO has been set at Rs 440 to Rs 465 per share which is lower than their buying price of Rs 487.44.
Tendulkar and his wife, Anjali, reportedly bought 2 lakh shares in FirstCry, Mariawala’s family office Sharrp Ventures bought 20.5 lakh shares, Ranjan Pai’s family office bought 51.3 lakh shares, and Kanwaljit Singh bought 307,730 shares.
Other notable ones who bought shares in FirstCry include Infosys co-founder Kris Gopalakrishnan’s family with 615,460 shares, and DSP founder Hemendra Kothari with 820,614 shares
It is reported that most of the shareholders, whether they would be selling their shares in the IPO or not, would be sitting on their gains except for the ones who bought them around last year when shareholders SoftBank and FirstCry founder Supam Maheshwari sold a part of their holdings in the company.
Ratan Tata, the former chairman of Tata Sons, who holds 77,900 shares is a big winner in the IPO. He bought the shares at an average price of Rs 84.72 and would sell them in the IPO gaining more than 5x returns.
Similarly, Mahindra and Mahindra Limited, which owns 11 per cent of FirstCry will also be a big gainer with almost 6x returns as they had bought the shares at Rs 77.96 a piece.
One of Premji’s investment vehicles would be selling 86 lakh shares in the IPO at Rs 280.87 a piece, gaining 57 per cent in gains.
FirstCry's IPO consists of a fresh issue of Rs 1,666 crore. At the upper end of the price band, the offer for sale is valued at Rs 2,527.72 crore. The total issue size will be Rs 4,187.72 crore while the total market cap will be Rs 22,475 crore or $2.68 billion.