NEW DELHI: Japanese conglomerate SoftBank has sold shares worth $310 million in omni-channel 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 $310 million from two rounds of stake sale in FirstCry,” a source said.
The source said the sale values FirstCry in the range of $3.5-3.75 billion.SoftBank had invested $400 million in FirstCry at an enterprise valuation of $900 million. Another source said SoftBank is still left with shares valued in the range of $800-900 million, which it will sell later.
An emailed query sent to SoftBank did not elicit any response.
“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 $310 million from two rounds of stake sale in FirstCry,” a source said.
The source said the sale values FirstCry in the range of $3.5-3.75 billion.SoftBank had invested $400 million in FirstCry at an enterprise valuation of $900 million. Another source said SoftBank is still left with shares valued in the range of $800-900 million, which it will sell later.
An emailed query sent to SoftBank did not elicit any response.