Japanese conglomerate SoftBank has sold shares worth USD 310 million in omnichannel retailer FirstCry, which is likely to file a draft paper for IPO this week, sources said on Monday.
“SoftBank recently sold shares worth Rs 630 crore in FirstCry. It was picked up by a few high net worth individuals. With this sale, SoftBank has realised USD 310 million from two rounds of stake sale in FirstCry,” a source told PTI.
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The source said that the sale values FirstCry in the range of USD 3.5-3.75 billion. SoftBank had invested USD 400 million in FirstCry at an enterprise valuation of USD 900 million.
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