News on Medial

Ratan Tata to sell all his 77,900 shares in FirstCry IPO

Economic Times · 1y

Ratan Tata, Chairman Emeritus of Tata Sons, plans to sell his 77,900 shares in the upcoming Initial Public Offering (IPO) of kidswear startup FirstCry. Tata had acquired a 0.02% stake in FirstCry in 2016 for ₹66 lakh. The IPO will include a fresh issue of shares worth up to ₹1,816 crore, with existing investors like SoftBank and Mahindra & Mahindra also selling their shares. FirstCry intends to use the funds to expand its stores in India and Saudi Arabia.