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According to the DRHP, Maheshwari held about 7.46% stake as a promoter 10 days before the company filed its IPO prospectus with Sebi. As on the date of filing the IPO papers, the stake was reduced to 5.95%, meaning there was a sale of 62 lakh shares.
Maheswhari offloaded over 6 million shares in FirstCry in the 10 days prior to filing DRHP and a total of 9 million shares in the preceding six months
The Firstcry IPO comprises of issuance of fresh equity shares worth ₹1,816 crore as well as an offer for sale by existing shareholders and promoters. It has not announced the opening and closing dates for the IPO subscription yet in its DRHP or its price band.
Firstcry offers more than one million SKUs from over 6,800 brands, including prominent third-party Indian brands, global brands, and their own home brands as at June 30, 2023.
Firstcry has filed for an initial public offering (IPO) on Thursday, its draft papers showed.