FirstCry to withdraw IPO papers

FirstCry to withdraw IPO papers

Brainbees Solutions, the parent company of FirstCry, is reportedly withdrawing its $500 million (₹3,759 crore) IPO within four months of filing due to SEBI's raised concerns over disclosed metrics. SEBI's new rule requires IPO-bound firms to share all key business metrics disclosed to investors in the last three years. FirstCry may refile IPO papers soon with updated financials for FY24.