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Home / News / Business News / FirstCry acquires Mahindra's BabyOye for Rs.362.1 crore
  • Business

    FirstCry acquires Mahindra's BabyOye for Rs.362.1 crore

    Sneha Johny
    Written by
    Sneha Johny
    Mail
    Last updated on Oct 17, 2016, 08:00 am
    FirstCry acquires Mahindra's BabyOye for Rs.362.1 crore
  • Online baby care portal FirstCry acquired Mahindra Group's e-commerce website for kids' products, BabyOye.

    The deal, worth Rs.362.1 crore, will consist of both cash and stock components.

    A filing with the Bombay Stock Exchange (BSE) states that the deal will see an equity component amounting to about Rs.354.6 crore and around Rs.7.5 crore in terms of cash.

    Other transaction details were not announced.

  • In this article
    FirstCry BabyOye Mahindra acquires BabyOye FirstCry acquires Mahindra's BabyOye for Rs.362.1 crore Consolidation to help pitch companies as market leaders How will the deal help FirstCry? FirstCry's consumer base after the deal
  • About

    FirstCry

    FirstCry
  • FirstCry was launched as a platform retailing in baby and kids products, while also catering to to-be moms.

    The company was launched as a start-up in 2010 by Supam Maheshwari, who currently serves as the CEO.

    With popular brands such as Mattel, Ben10, Barbie and Fisher Price, the company has grown to include over 700 brands retailing under its online stores.

  • About

    BabyOye

    BabyOye
  • BabyOye was launched in 2014 by Sanjay Nadkarni and Arunima Singhdeo, backed by Tiger Global, Accel Partners and Helion Venture Partners.

    The company was owned by Mumbai-based Nest Childcare Services, and since its launch, has seen stiff competition from larger players like Flipkart and Amazon.

    The company closed its 2014 financial year with losses amounting to Rs.15.14 crore.

  • 04 Feb 2015

    Mahindra acquires BabyOye

    Mahindra acquires BabyOye
  • Early last year, one of India's largest conglomerate, Mahindra Group acquired BabyOye's Nest Childcare Services.

    Anand Mahindra, the Chairman of Mahindra Group, announced their deal with the e-commerce website on social network.

    Mahindra Group was pitched to run one of the country's largest offline store chain, Mom & Me.

    The company faced increasing rivalry from FirstCry, touted to be the market leader.

  • 17 Oct 2016

    FirstCry acquires Mahindra's BabyOye for Rs.362.1 crore

    FirstCry acquires Mahindra's BabyOye for Rs.362.1 crore
  • Online baby care portal FirstCry acquired Mahindra Group's e-commerce website for kids' products, BabyOye.

    The deal, worth Rs.362.1 crore, will consist of both cash and stock components.

    A filing with the Bombay Stock Exchange (BSE) states that the deal will see an equity component amounting to about Rs.354.6 crore and around Rs.7.5 crore in terms of cash.

    Other transaction details were not announced.

  • Quote

    Consolidation to help pitch companies as market leaders

  • "Consolidation is the way to thrive and establish industry leadership. I am optimistic that this consolidation of the strengths that both groups bring to the partnership will result in a winning proposition," said Anand Mahindra.

  • Benefits

    How will the deal help FirstCry?

    How will the deal help FirstCry?
  • Although FirstCry has around 180 offline stores under its belt, the acquisition will see the company obtain another 120 BabyOye stores.

    Operating in a niche vertical space, the deal will help FirstCry gain a better foothold in the business to compete against larger players like Flipkart.

    The company has also raised fresh equity capital of $34 million from Mahindra Group and other investors.

  • Information

    FirstCry's consumer base after the deal

  • After the deal with Mahindra Group, the company will gain access to a parent base of around 4 million. It will also boost their footprint to over 300 stores across a whopping 125 cities.

  • India
  • BSE
  • Bombay Stock Exchange
  • Anand Mahindra
  • Mahindra Group
  •  
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