FirstCry plans secondary offer to sovereign funds at $ 3 billion valuation

Omnichannel retailer FirstCry is in discussions with a set of sovereign funds to facilitate some of its shareholders to sell a stake in the company at a valuation of nearly $3 billion, three people in the know told ET. This started after deal talks with private equity firm Kedaara Capital fell through a few months ago, people in the know said. While discussions are still in the early stages, the funding is being primed as a pre-IPO round for the Pune-based startup, they said.