A guide on how to lose money in the FirstCry IPO

For the company’s existing investors, a public listing is crucial. While the revised DRHP improves disclosures, there’s nothing to show that business headwinds are easing or will in the future.

FirstCry is now taking a second shot at a public listing. 

Last month, the retailer that sells baby and mother products was forced to withdraw its draft papers for an initial public offering. The 14-year-old company had run into trouble with India’s market regulator over a lack of disclosures in some key business metrics. Put simply, FirstCry’s IPO papers didn’t offer much clarity as to how the company is faring and the regulator requested more details. 

To FirstCry’s credit, its second filing last week was quick and detailed. The company has gone the extra mile to ensure that all its …

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Ujval Nanavati

Ujval leads our Business vertical at The Morning Context. In a corporate career spanning 14 years, he has worked across startups, consulting firms, multinational corporations and large Indian companies, including India Infoline, ICICI, KPMG, Tata Steel and Jubilant Pharma. Ujval has been a freelance writer and trainer for eight years, with bylines in Forbes India and The Economic Times.

Editor, Business

ujval@mailtmc.com

Pune

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Harveen Ahluwalia

Harveen is a co-founder at The Morning Context, and leads our Internet coverage, overseeing a team of reporters writing on startups and tech. She has previously worked as a media, consumer and tech reporter at The Ken and Mint. At The Morning Context, she writes on startups, venture capital, consumer and media businesses—from e-commerce to healthtech to streaming.

Editor, Internet

harveen@mailtmc.com

Mumbai