Ratan Tata-backed Company's IPO Approved by SEBI: Check Details

 The Securities and Exchange Board of India (SEBI) has given the green light to IPO proposals from two portfolio firms of SoftBank. These include Firstcry, an omni-channel baby products retailer, and Unicommerce, a Pune-based e-commerce enterprise software developer.

Ratan Tata-backed Company's IPO Approved by SEBI: Check Details

Firstcry's parent company, Brainbees Solutions Limited, refiled documents with SEBI in May for their IPO, aiming to raise up to Rs. 1,816 crore through new share issuances and offering for sale (OFS) of 5.44 crore existing shares. Notably, Ratan Tata holds a substantial stake in Firstcry, having acquired additional shares at Rs. 84.72 per share in a preferential allotment, amounting to an investment of around Rs. 66 lakh.

In a separate move, Unicommerce submitted IPO documents in January, planning to sell shares worth Rs. 480-490 crore without any fresh issue. The IPO will include a total of 29,840,486 equity shares, with Aspecter Limited (formerly Snapdeal Limited) offering 11,459,840 equity shares. IIIFL Securities Limited and CLSA India Private Limited are managing the IPO process as book-running lead managers.

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