Private equity (PE) giant TPG has exited omnichannel kids wear giant FirstCry through a ₹202 Cr bulk deal.
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 to rake in the amount.
Of the shares that flooded the market, Goldman Sachs Investments Mauritius lapped up 68 Lakh shares at ₹175 apiece for a sum of ₹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.
Notably, TPG held a 2.21% stake in FirstCry at the end of the June 2026 quarter. The PE giant first invested in the omnichannel kidswear giant in 2021, and has been gradually diluting its shareholding in the company since FirstCry’s IPO in 2024.
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 (YTD) basis. TPG is likely to have capitalised on the stock surge in the past week to book gains.
The sell-off comes as FirstCry continues to be a loss-making company. On top of this, 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.
Source link
