SoftBank set to offload over 16% stake as part of OFS in FirstCry’s IPO

SVF Frog, a SoftBank-operated, Cayman Islands-registered entity, is set to offload over 16 per cent of its stake as part of the offer for sale (OFS) in Brainbees Solutions’ (FirstCry.com) initial public offering (IPO). PI Opportunities Fund-1 is expected to offload over 36 per cent stake and Mahindra & Mahindra would sell over 5 per cent stake as part of the IPO of the multi-channel retailing platform for newborns, mothers, and kids.

The Pune-based unicorn’s initial public offering comprises a fresh issue of equity shares aggregating up to Rs 1,816 crore and an OFS of up to 54,391,592 equity shares by selling shareholders, according to the analysis of the 572-page Draft Red Herring Prospectus (DRHP).