FirstCry the prominent kid’s product brand has recently filed draft red herring papers (DRHP) in December 2023 to SEBI. The company planning to bring its IPO in the financial market. But today, we have an update that IPO-bound FirstCry is going to invest in its Saudi business. This will be a great expansion after the IPO opening and will attract the attention of retail investors. FirstCry built its branding with its brilliant child care products which is now its identity as well. Let’s discuss the amount allocated to this expansion by company.
As per the reports, FirstCry has allocated an investment of ₹155 Crore for its Saudi business. The details have been disclosed by the company officials. Possibly, the expansion in the Gulf country will help FirstCry to bring more revenue with high profitability.
According to the DRHP filed by FirstCry, the company is planning to invest over ₹73 Crore in the Saudi Market and will open around 12 outlets. It will establish a warehouse facility spanning 250,000 square feet with ₹83 Crore investment.
Now moving towards India, FirstCry has over 936 retail stores all over India. This is the big reason behind the extreme popularity of Firstcry. It will be interesting if the company adds more products to expand its reach in India as well as in other countries. Currently, the company is facing competition in e-commerce because of rivals like Amazon, Flipkart, and other online platforms in the same category. T
FirstCry IPO popularity can be seen among stock market enthusiasts easily. The IPO opening date is yet to be announced by the company. However, it is expected that Firstcry IPO may open around April or May 2024. We will add the update on our website. Stay tuned to get the latest business news and top industry headlines.