Baby products seller FirstCry halts $1-B IPO plans

Pune-headquartered online retailer of baby products FirstCry will delay its USD 1 billion IPO by a few months. The cautious approach by the SoftBank-backed e-tailer follows the muted response last week to new economy issues like that of logistics player Delhivery. FirstCry, which also runs offline stores, is also thinking of 'recalibrating' its overall issue size and the valuation it would seek. FirstCry was aiming for a valuation of close to USD 7 billion for an issue size of USD 1 billion with an offer for sale (OFS) component of around USD 700 million