SoftBank, others to pare stake in baby products retailer FirstCry through secondary sale

Japan's SoftBank and NewQuest Capital Partners are among existing investors seeking to sell shares of Pune-based, IPO-bound baby products retailer FirstCry via a secondary sale valuing the firm at USD 3.5-4 billion. SoftBank, which is the biggest investor in the omnichannel company with a 29% stake, wants to reduce its holding to less than 25%. FirstCry has reportedly held talks with Mumbai-based private equity firm Kedaara Capital, for the deal.