As per NSE data, 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
TPG has completely exited FirstCry even as the kidswear brand remains a growing but loss-making company trying to improve profitability amid high operating costs
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 YTD basis
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.
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.
In addition, its 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, which 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.