Private equity company TPG has sold its 2.21% interest worth INR 202 crore in FirstCry via a bulk deal. NewQuest Asia Investments sold 1.2 crore TPG shares at INR 175.15 each III. Goldman Sachs Investments Mauritius bought 68 lakh shares worth INR 119 crore. The media has reported that private equity firm TPG has sold its stake in omnichannel childrenswear retailerFirstCryfor a whopping INR 202 crore. NSE data shows that TPG sold all 1.2 crore shares (2.21% of FirstCry) at INR 175.15 per via its subsidiary NewQuest Asia Investments III Ltd. For about INR 119 crore, Goldman Sachs Investments Mauritius purchased 68 lakh shares at a price of INR 175 each. No one was named as the purchaser of the remaining shares. TPG made a profit of about 2.4% below FirstCry's prior closing price when it sold the shares. As of the end of the June 2026 quarter, TPG owned 2.21% of the company. TPG has been a patient shareholder in FirstCry since its initial public offering (IPO) in 2024, having invested in the company in 2021. Despite investing in its supply chain and primary product categories, FirstCry has maintained a loss-making record. But unit economics have been steadily improving for the corporation. From INR 66.5 crore in the previous year's first quarter, FirstCry's net loss shrank 35% to INR 44 crore in the first quarter of FY27. Operating revenue for the quarter was INR 2,106.2 crore, an increase of 13% year-on-year. Swara Baby Products, a wholly owned subsidiary of FirstCry and a contract manufacturer, has applied for an initial public offering (IPO) of INR 1,000 crore with SEBI. There will be a new issue of up to INR 500 crore and an offer-for-sale component of up to INR 500 crore. Despite the ongoing pressure on FirstCry's stock, the company has announced a bulk deal. Although they are up 6.13% for the week, the stock is still down 37.4% for the year. At one of FirstCry's warehouses in Bengaluru in May 2026, the Bureau of Indian Standards (BIS) carried out search and seizure operations and found items valued at INR 90 lakh. Bheemakkanahalli hamlet, Sulibele Hobli, Hoskote taluka, and Bengaluru rural district were all the sites of the one-day inspection. In a regulatory filing, FirstCry stated that several items valued at about INR 90,000,000 were seized as a result of the search. According to the BIS, the company violated Section 14(6) of the BIS Act of 2016 by failing to use its standard mark or hallmark for a few of its items. FirstCry explained that the search operation had no effect on the company's activities and stated that it had cooperated completely with the authorities throughout the process. The statement further stated that the company is seeking adequate legal assistance in support of its defence and has no cause to suspect that the products confiscated by BIS do not comply with BIS laws.
