TPG exits FirstCry through ₹202 Cr bulk deal
TPG exits FirstCry through a ₹202 Cr bulk deal
TPG has completely exited FirstCry through a ₹202 Cr bulk deal on September 24, 2026.
As per NSE data, the PE major, via its entity NewQuest Asia Investments III Ltd, sold its entire 2.21% shareholding, or 1.2 Cr shares, in the listed company at ₹175.15 each.
Goldman Sachs Investments Mauritius lapped up 68 Lakh shares at ₹175 apiece for ₹119 Cr. There was no clarity on who picked up the rest of the shares. TPG sold the shares at a discount of 2.4% to the stock’s last closing price on Thursday.
FirstCry remains loss-making
FirstCry is an omnichannel kidswear company.
TPG first invested in FirstCry in 2021 and has been gradually diluting its shareholding in the company since FirstCry’s IPO in 2024. TPG held a 2.21% stake at the end of the June 2026 quarter.
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The bulk deal comes at a time when FirstCry continues to be under selling pressure. The stock has jumped 6.13% in the past week, but is down 37.4% on a year-to-date basis. TPG is likely to have capitalised on the stock surge in the past week to book gains.
FirstCry continues to be a loss-making company. It continues to spend heavily to stave off competition in core categories, while supply chain issues are also piling on the costs. Nevertheless, it continues to improve unit economics.
The startup managed to trim its net losses by 35% to ₹44 Cr in Q1 FY27 as against ₹66.5 Cr in the year-ago quarter. However, operating revenue rose 13% YoY to ₹2,106.2 Cr in the quarter under review.
Swara Baby Products files DRHP for ₹1,000 Cr IPO
FirstCry’s subsidiary and contract manufacturer Swara Baby Products, which specialises in disposable hygiene products, has filed its DRHP with SEBI for a ₹1,000 Cr IPO. The IPO will comprise a fresh issue of equity shares worth up to ₹500 Cr and an offer-for-sale (OFS) component of up to ₹500 Cr.
Shares of FirstCry closed Thursday’s trading session 0.66% lower at ₹179.40 on the BSE.
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