SoftBank sells $310 million worth of FirstCry shares before the company goes public.

The story says that the sale of FirstCry is worth between $3.5 billion and $3.75 billion. SoftBank put $400 million into FirstCry when the company was worth $900 million.

Sources told the news agency PTI on December 25 that Japanese investment giant SoftBank had sold $310 million worth of shares in omnichannel store FirstCry. 

The company is expected to file a draft paper for an initial public offering (IPO) this week.

"SoftBank just sold 630 crore rupee worth of FirstCry shares." There were some wealthy people who picked it up. One person told PTI, "SoftBank has made USD 310 million from two rounds of stake sales in FirstCry."

The story says that the sale of FirstCry is worth between $3.5 billion and $3.75 billion. SoftBank put $400 million into FirstCry, which was worth $900 million as a business.

Another source told PTI that SoftBank will sell the remaining shares, which are worth between $800 million and $900 million.

A Moneycontrol story says that in November, SoftBank raised the prices of FirstCry and a few other companies in its portfolio. This showed that investors were confident in the two companies before their IPO.

"FirstCry is looking to raise $500 million and 60 percent of that will be the offer for sale (OFS) component while the remaining will be the primary part," someone told Moneycontrol.

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