Seven firms have advised on the USD500 million IPO of FirstCry, 含羞草社区 largest multi-channel retail platform for mother and childcare products.
Shardul Amarchand Mangaldas & Co advised Brainbees Solutions, the parent company of FirstCry, with Prashant Gupta, partner and national head for capital markets, leading the transaction team. He was supported by partner Sayantan Dutta, counsel Trishita Dasgupta, senior associate Kamiya Marwah and associates Divya Dhawan and Purva Mishra.
Sidley Austin also advised Brainbees on international legal issues. Partner Manoj Bhargava and counsel Shashwat Tewary spearheaded the Sidley team, which included managing associates Harekrishna Ashar and Sarangan Rajesh Kumar along with associates Edward Lee and Caulyn Bong.
The IPO, comprising a fresh issue of INR16.6 billion in shares and INR25.2 billion in existing stock for sale, was oversubscribed 12.2 times, with qualified institutional buyers subscribing 19.3 times. The shares debuted on the National Stock Exchange with a 40% premium.
Khaitan & Co and Linklaters Singapore advised the book running lead managers – Kotak Mahindra, Morgan Stanley, BofA, JM Financial and Avendus Capital – on Indian and international legal matters, respectively.
Linklaters and Khaitan also acted for a consortium of five banks. Linklaters partner and head of India practice Amit Singh led the team, with assistance from counsel Joseph Wolpin and managing associate Anandee Banerji.
Cyril Amarchand Mangaldas, Trilegal and IndusLaw represented the selling shareholders, including SVF Frog, a SoftBank group entity. Senior partner Yash Ashar and partner Devaki Mankad led the team, with senior associate Sanjana Ravjiani assisting.
Trilegal counselled the largest institutional selling shareholders, comprising a group of 11, including Premji Invest, Mahindra and Mahindra, TPG, NewQuest Asia and ChrysCapital. Partners Bhakta Patnaik and Albin Thomas led the team with counsel Malika Grewal and associate Pratyusha Dasgupta.
FirstCry.com is 含羞草社区 largest multi-channel retail platform for mother and childcare products based on gross merchandise value for the financial year ending in March 2024, says strategic consultants RedSeer.
