Pushkar Singh

NIFTY 50 PE at 22742 21.7 agst. 1 month average 21.63 3 month average 22.43 6 month average 22.56 1 year average 22.34 3 year average 21.66 5 year average 25.62 It will be prudent to not compare 5 year average as this period include Covid period, when earnings were exceptionally low leading to higher PE. If we compare other figures, NIFTY 50 is still fairly priced. But there is one caution that IT and Financials like Bank have large weight in Nifty 50 and they are down leading to corrected NIFTY. If we exclude IT, Financials and FMCG, then market is certainly high. So, it makes more sense in investing in Basket instead of individual stocks. This is just for information for further analysis before investment and not a recommendation.

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As an investor, finding the right opportunity in upcoming IPOs is key. But understanding the IPO process in India can truly elevate your investment strategy. Here’s a brief rundown on how companies transition from private to public entities through the Initial Public Offering (IPO) process. An IPO allows a company to raise capital and gain liquidity by offering its shares to the public. However, the IPO process in India is intricate and involves several critical steps. --> Steps in the IPO Process: - Hiring an Underwriter or Investment Bank: Companies begin by hiring financial experts who act as intermediaries and ensure the capital is raised efficiently. The underwriting agreement details the deal, the amount to be raised, and securities being issued. - Registration for IPO: This involves preparing a registration statement and the Offer Document, which includes definitions, risk factors, use of proceeds, industry and business descriptions, management information, financial statements, and legal disclosures. - Verification by SEBI: The Securities and Exchange Board of India (SEBI) reviews the company's disclosures. Upon approval, the company can announce its IPO date. - Application to Stock Exchange: The company applies to the stock exchange to float its initial issue. - Creating a Buzz through Roadshows: Before the IPO, companies market their impending IPO via roadshows, engaging with potential investors, business analysts, and fund managers through presentations, Q&A sessions, and virtual events. - Pricing of IPO: The company sets the IPO price either through a Fixed Price or Book Building Offering. The bidding process allows investors to place bids within a set price range. - Allotment of Shares: Once the price is finalised, shares are allotted to investors. In case of oversubscription, partial allotments are made, and shares are usually distributed within 10 working days. Understanding this process not only helps investors make informed decisions but also ensures a smoother transition for companies entering the public market. #Finance #CorpwisAdvisorsPrivateLimited #stock #IPO #stockmarket #IPOprocess #india #SEBI

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🚀 Indian IPO Market is on Fire! 📈 We’re excited to share our latest insights on the Indian IPO landscape. Our team has put together a comprehensive overview to provide valuable information for our community and decision-makers. We plan to bring you these updates on a monthly basis. 🌟 A big shoutout to Raghuram Kasiviswanathan and Vishwa Mishra for leading this initiative! Key Takeaways: · The Indian IPO market is at a historic high, attracting several scaled-up start-up's to restructure and pursue successful listings domestically. 📊 · Global companies are also eyeing India as a prime market, with Hyundai recently committing to raise $2B–$3B in primary capital from India. 🌐 · Domestic capital inflows are booming, making India a top recommendation for large equity raises. 💰 At Uniqus, we’re excited to see these developments unfold and are committed to helping companies navigate the regulatory landscape for successful fundraises. Stay tuned for more updates! #IPO #CapitalMarkets #Fundraising #India #Uniqus

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🌟 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝗟𝗲𝘀𝘀𝗼𝗻𝘀 𝗳𝗿𝗼𝗺 𝗜𝗣𝗟: 𝗣𝗮𝘁𝗶𝗲𝗻𝗰𝗲 𝗣𝗮𝘆𝘀 𝗢𝗳𝗳 🏏💼 KKR's acquisition of Mitchell Starc for 24.75 crores in IPL sparked debates and skepticism. Despite initial criticism over his performance, Starc silenced doubters with standout performances in the quarter-final and final, earning him the coveted title of Man of the Match. The takeaway? Whether it's people or investments, true value shines through when it matters most. The journey from skepticism to success underscores the importance of patience. So, if you've made a sound investment decision and it's facing temporary setbacks, stay the course, trust your judgment, and tune out the noise. Patience is key to reaping the rewards in the long run. 🚀💰 #InvestingWisdom #PatiencePaysOff #IPL2024

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🚀 Build a start ups with optionality 🚀 Optionality in your start up journey comes from building small, sustainably, and iteratively. What would happen if at every funding cycle your only target was profitability, if you knew that every next chunk of funding was dependent on you reaching start up homeostasis? My guess: 1) You'd build slower 2) You'd focus less on scalability so early in your journey 3) You'd focus more time on talking to customers 4) You'd spend less time and money on product 5) You'd spend less on marketing and more on sales What happens if you really take this approach? You get optionality. By building a business in a short term sustainable way, you take power away from investors and other financial aid, and instead focus attention on the best options for you business. You can jump on and off funding cycles as you see fit and explore a more diverse range of exit options (or god forbid, profit led growth). How do you think we should approach business building in venture? #venturecapital #VC #startup

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Rishabh Mariwala has turned Sharrp Ventures | Harsh Mariwala Investment Office the investment office of the Harsh Mariwala family, aka The Marico Limited family, into a $300 Million D2C investing juggernaut. He founded Sharrp Ventures in 2014 as his family’s investment office to invest in public and private companies. He moved from a 90% public and 10% private investing allocation to over 40% just in unlisted, private companies. Little did he know at the time that this approach will help him make 35x returns on Nykaa and 50x on Mamaearth, making him a beacon of inspiration for family offices across the country as well as recognising family offices as an equally attractive, if not more, alternative to VCs. In the latest edition of Create Wealth Podcast, I talk to Rishabh about ✨ When to start a family office (hint: it's not just $$$) ✨ How does Sharrp’s investment model help Marico in innovating its product line ✨ Balancing private vs public investments ✨ Evaluating winning D2C brands to back ✨ Why brand building is a long game ✨ Costliest mistakes D2C brands make Plus, unfiltered wisdom bombs like: "A tree can't grow under a banyan tree" - Rishabh on the unique struggles of next-gen entrepreneurs "Patient capital, not VC mindset" - How family offices differ from VCs Watch the entire episode (LINK IN COMMENTS) on the Create Wealth with Sandeep Jethwani YouTube channel. #podcast #FamilyOffice #CreateWealth #investing

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Today's Headlines from : *Economic Times* 📝 3,638 FDI proposals cleared in sensitive sectors since 2019 📝 NARCL ups offer for Jaiprakash Associates debt to Rs 12,000 crore 📝 Festivals take e-toll collections to a record ₹6,000 crore in October 📝 Railways switches to fast track for Kavach rollout 📝 India tops global diabetes list with 212 million cases in 2022: Lancet Study 📝 Nokia to roll out 3,300 new 4G sites by March for Vi expansion 📝 Morgan Stanley, 2 others pick 6.8 pc stake in PNB Housing Fin for Rs 1,664 crore 📝 Nalco Q2 Results: Profit rises multi-fold to Rs 1,046 crore; Rs 4 per share dividend announced 📝 NBCC Q2 Results: Profit jumps 53% to Rs 125.13 crore 📝 Kalpataru Projects International bags orders worth Rs 2,273 crore 📝 Ecommerce AI startup BiteSpeed raised USD 3.5 million 📝 SaaS startup Zeplyn raises $3 million from Leo Capital, others 📝 Space startup Firefly valued at over $2 billion in latest funding round *Business Standard* 📝 Brigade Enterprises Q2FY25 results: Reports 46% increase in sales value 📝 Marriott International, Samhi Hotels ink pact to open 3 properties in India 📝 India's Adani Group to invest $10 billion in US energy following Trump win 📝 Dilip Buildcon Q2 results: Net profit rises threefold to Rs 235 crore 📝 ONGC to soon open 5 wells in KG basin to boost gas, crude output in H2FY25 📝 NCLAT directs IL&FS to complete resolution of remaining firms by March 31 📝 ICAI to knock on MCA door against proposed audit standard revision 📝 India's outward FDI rises to $3.7 billion in October 2024: RBI data 📝 Mkt regulator Sebi mulls action for lapses in Artificial intelligence usage 📝 Festive season stabilises PV sales, 2Ws jump 14%; over 393K vehicles sold *Financial Express* 📝 Economists revise FY25 CPI inflation estimates to 4.7-5 per cent 📝 IN-SPACe taps DoT to cut spectrum price for Spacetech startups 📝 Eicher Motors Q2 profit rises 8 per cent to Rs 1,100 crore 📝 Power ministry readies interest subvention scheme for MSMEs 📝 Karnataka to organise venture capital connect with $17 billion investment potential 📝 IPO-bound NTPC Green plans to invest Rs 1 lakh crore by FY27 📝 Indebtedness of states expected to remain rangebound at 31-32% this fiscal, says CRISIL *Mint* 📝 US October inflation rises 2.6% YoY in first annual acceleration since March 📝 UN to come up with solutions to support countries cope with extreme heat 📝 BII, Norfund, IndiGrid form $300 million business for battery storage 📝 AstraZeneca Q2 net profit declines 10%, revenue up 31% 📝 Torrent Power Q2 Results: Net profit falls 8.6% YoY to ₹496 crore 📝 RBI retains SBI, HDFC, ICICI as India's too-big-to-fail banks 📝 Prosus offers to invest $100 million in Mintifi Finserve at unicorn valuation

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Just a little clarification: We don't choose PMS over MFs and are product agnostic. In my experience, investors and distributors invest in PMS for the wrong reasons, mainly higher returns. Like any other product, PMS has its own pros and cons, and one should take exposure only if one understands these nuances completely. Thank you, Cafemutual, for providing the platform to discuss these in detail. Mukul Agarwal Circle Wealth Advisors Private Limited

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#Nifty 55 days time cycle is possibly reversing back on upside and break above 24240 hourly close above this will result into short term up move back to 24490 levels - join me live: https://lnkd.in/dnjwmKBd

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📢 Budget 2024 - My humble expectations on CNBC Awaz ! Super grateful 🙏 for being included on CNBC_Awaaz to voice my opinion on the expectations from the upcoming budget in July 2024 - for the Bond market. So, what are my expectations ? >> 🛎 Incentivize retail investors to invest in Bond market by offering tax incentives/ tax exemptions. To start, this can be for investment in Govt. Bonds (GSecs) and AAA rated PSU papers. 🛎 Allow new varieties of bonds to be issued via online platforms like Green Bonds etc. 🛎 Countries like Singapore allow fractional investment into Bonds via digital platforms. Government can look into allowing this for our country too via online bond platforms (termed as OBPP). Currently, the lowest ticket size for corporate bonds is Rs 1K for bonds issued via IPO route and Rs 10K issued via private placements - Sebi circular April 2024. However, in Mutual Funds, investors can invest as low as Rs 500. To bring parity across the market and enable more retail participation, either we can look at fractional investment in Bonds or reduce the minimum issue value to Rs 500. 🛎 Make it mandatory for companies across various industry segments - manufacturing, chemicals, automobiles etc. to raise debt via Bond route. That way, there will be greater diversity of bond issuers in the market which is now primarily concentrated with NBFCs. This will enable our Bond market also to mature greatly. 🛎 Allow online bond platforms (OBPPs) to be able to integrate with RBI Direct so that retail investors can now apply during auctions for fresh issuance of Government Bonds (happens every month) as well via these platforms. As the retail traction is building up very well on online bond platforms due to the ease of investment and post investment service that they offer, allowing these changes will enable more retail funds to flow into both the Government and Corporate Bond Markets. These are for the Bond/ Debt Market specifically. What other expectations do you have from the upcoming Budget?⁉ Write in the comment section below ✍ #budget #bonds #onlineplatform #goldenpi #bondinvestment #fixedIncome #personalfinance

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Today's Headlines from : *Economic Times* 📝 'Govt FY25 spends to be in sync with Budget estimates of ₹48.2 lakh cr' 📝 ONGC's standalone net profit rises 17% to Rs 11,984 crore; dividend declared 📝 India's net direct tax collection rises 15.4 pc to Rs 12.1 lakh crore in April-November 📝 Insecticides India Q2 Results: Profit rises 16% to Rs 61 crore, revenue declines 10% 📝 Shapoorji Group in talks for Rs 8,000 crore raise via bonds 📝 Vedanta Group plans to invest USD 500 mn in AvanStrate Inc 📝 Semiconductor sector to create 1 million jobs in India by 2026, says report 📝 Sterlite Power gets Rs 1,200 cr orders in Q2 📝 Unicommerce to acquire shipping automation firm Shipway 📝 LTTS acquires silicon valley based Intelliswift for $110 million; adds 1,500 headcount 📝 Epiq Capital leads $16.5 million funding round in edtech startup Bhanzu 📝 ID verification company Equal bags $10 million in first institutional raise 📝 Pfizer to fund six startups through its INDovation program for healthcare *Business Standard* 📝 KFC India operator Devyani's revenue jumps 49% on new store additions 📝 Hindalco Q2 results: Net up 78%, plans $4-5 bn capex for upstream units 📝 Bank of India Q2FY25 results: Net profit rises 63% to Rs 2,374 crore 📝 German lens maker ZEISS expands its Global Capability Centre in Bengaluru 📝 IRFC retains Rs 1,415 crore at 7.14% through 15-year maturing bonds 📝 HealthCare Global to sell diagnostic business Triesta for Rs 135 crore 📝 Ambuja Cements seeks CCI approval to buy majority stake in Orient Cement 📝 Elon Musk's Starlink moves closer to India licence, accepts data terms 📝 Flipkart achieves EV deployment target of over 10,000 in delivery fleet 📝 FinMin revokes 8-year-old circular: CPSEs no longer need NITI nod for JVs 📝 COP29 kicks off; host asks nations to resolve differences on finance goal 📝 Rupee hits fresh low of 84.39 against the US dollar amid FII selloff 📝 RBI, Sebi unveil rules for converting excess investment by FPIs into FDI 📝 Apple targets 32% of iPhone production and 26% of value in India by FY27 *Financial Express* 📝 Mutual Funds: Monthly SIP value hits Rs 25,000 crore mark for first time; SIP accounts 10.12 crore 📝 Rural FMCG basket size improves by 60% as income sources grow 📝 ED to summon Amazon, Flipkart executives as regulatory scrutiny grows: Report 📝 Sanjiv Khanna takes oath as 51st Chief Justice of India *Mint* 📝 Centre to release upto ₹70,000 crore capex loans to states in Q3 📝 ITC Foods, AIPA ink 5-year deal to popularise pickleball in India 📝 Centre extends tenure of Foreign Secretary Vikram Misri till July 2026 📝 Balrampur Chini Mills Q2 results: Net profit falls 60% YoY to ₹67 crore 📝 Hindustan Copper Q2 results: Net profit jumps over 67% YoY to ₹102 crore 📝 Oil crashes over 2% on disappointing China stimulus; Brent drops below $73

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Finance News alert - 2 > The Indian stock market saw mixed movements with companies like Tata Steel, Maruti Suzuki, and others being closely watched. Investors are keen on the quarterly earnings of major companies. > The deadline for filing Income Tax Returns for the fiscal year 2023-2024 ends today. Missing the deadline could lead to penalties and other consequences. > The Securities and Exchange Board of India (Sebi) is considering significant changes to curb speculative trading in derivatives, which could impact trading volumes and strategies. > There has been a notable decrease in household savings, with approximately ₹60,000 crore lost annually in the Futures and Options (F&O) market, raising concerns about financial discipline. > Uneven monsoon distribution is affecting agricultural outputs, with excess rainfall in southern regions and drought-like conditions in northern districts, impacting rural economies. > A number of companies, including Aarti Pharmalabs and Bata India, are going ex-dividend, while Goel Food Products is issuing a bonus. > Ola Electric's potential IPO is generating buzz, with expectations that the company might become a significant player in the electric vehicle sector. > Maharashtra and Tamil Nadu are competing to host Tesla's manufacturing unit in India, which could bring significant investment and job opportunities. > New SEBI regulations may create additional challenges for stock exchanges, especially concerning governance and compliance. > Oil marketing companies like BPCL and HPCL are experiencing under-recoveries, prompting discussions on potential government support.

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"Hi, I am Rohit Krishna. Back in 2011, I had one goal: to break into the PE/VC world. With only a handful of funds in India, it was an uphill climb. Fast forward to 2017 – we launched WEH Ventures with our Fund 1 of ₹20 Crores. Raising for our Fund 1 wasn’t easy. After all, your portfolio is not built out at all. It’s entirely blind investing. By 2020, we raised Fund 2 at ₹100 Crores, with me stepping into the role of General Partner. For our funds, the IRR is way above the standard: Fund 1: Approx 27-28%. (We raised ₹20 crores and have already returned this capital to investors. Profits are anticipated over the next 18-24 months.) Fund 2: Approx 39-40%, though exits are yet to start, as we recently completed the portfolio build-out. Want to build a career in a VC or start your own...here are my two cents!" #venturecapital #finance #charteredaccountant

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Synergy in M&A context is basically bullshit! While reading this interesting book - Bad Money by Vivek Kaul Vivek Kaul Publishing (https://amzn.to/47GiEEI), I came across the concept of “Synergy”. In Mergers and Acquisitions (M&A), synergies refer to the potential financial and operational benefits that arise when two companies combine. The idea is that the combined entity will be more valuable than the sum of the individual companies operating separately. These synergies can result in cost savings, increased revenues, or improved efficiency. As per Harvard Business Review article titled “The Big Idea: the New M&A Playbook”, M&A failure rate is between 70-90% - study after study. When it comes to M&A, the biggest synergy is reducing number of employees - which is never the smart strategy and the only strategy. In my career, most of the mergers I have witnessed, have mainly failed - only synergy which I saw was letting go of low paying staff to junior management! What is your take?

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India's venture capital (VC) industry is rethinking its fee structure, moving away from the standard “2 and 20” model, where 2% goes to management fees and 20% is taken from profits. As Indian startups face challenges, some investors (called LPs) are pushing for a fee system that better matches India’s unique market. Many believe fees should align more with the type of investments, risks, and stage of the companies funded. For example, high-cost areas like deeptech and fintech could charge higher fees due to longer timelines. This flexible approach aims to ensure that investors get fair returns and that fund managers are motivated to perform well over the long term. Assetian #venturecapital #VCindustry #investmentfees #startupecosystem #fundmanagement https://lnkd.in/g62B6H2X

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Raising Capital in India: Current Scenario: Traditional Funding Options: 1.⁠ ⁠Venture Capital (VC) Funds 2.⁠ ⁠Private Equity (PE) Funds 3.⁠ ⁠Angel Investors 4.⁠ ⁠Banks and Financial Institutions 5.⁠ ⁠Initial Public Offerings (IPOs) Alternative Funding Options: 1.⁠ ⁠Crowdfunding (e.g., Kickstarter, Ketto) 2.⁠ ⁠Peer-to-Peer Lending (e.g., Lendingkart, Faircent) 3.⁠ ⁠Invoice Discounting (e.g., KredX, InvoiceMart) 4.⁠ ⁠Equity Crowdfunding (e.g., Equity Crest, LetsVenture) 5.⁠ ⁠Blockchain-based Funding (e.g., ICOs, STOs) Government Initiatives: 1.⁠ ⁠Startup India: Tax exemptions, funding, and regulatory support. 2.⁠ ⁠Make in India: Encourages manufacturing and innovation. 3.⁠ ⁠Mudra Yojana: Loans for micro and small enterprises. 4.⁠ ⁠Standup India: Funding for women and SC/ST entrepreneurs. Private Sector Initiatives: 1.⁠ ⁠Incubators and Accelerators (e.g., Nasscom, TiE) 2.⁠ ⁠Industry-specific funds (e.g., healthcare, fintech) 3.⁠ ⁠Family Offices and High Net Worth Individuals (HNIs) Digital Platforms: 1.⁠ ⁠Online lending platforms (e.g., Lendingkart, Capital Float) 2.⁠ ⁠Equity crowdfunding platforms (e.g., LetsVenture, Equity Crest) 3.⁠ ⁠Investment platforms (e.g., Zerodha, Upstox) Key Considerations: 1.⁠ ⁠Business plan and financial projections 2.⁠ ⁠Regulatory compliance 3.⁠ ⁠Due diligence 4.⁠ ⁠Valuation and pricing 5.⁠ ⁠Investor relations Raising Capital Steps: 1.⁠ ⁠Prepare a compelling business plan and pitch. 2.⁠ ⁠Identify potential investors and funding options. 3.⁠ ⁠Network and build relationships. 4.⁠ ⁠Negotiate terms and valuation. 5.⁠ ⁠Close the deal. India's Funding Ecosystem: 1.⁠ ⁠Growing VC and PE industry. 2.⁠ ⁠Increasing focus on startups and innovation. 3.⁠ ⁠Government support and initiatives. 4.⁠ ⁠Rising importance of digital platforms

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Mutual Fund (MF) Lite Bull Markets can make even the Regulators loosen up a bit. SEBI is working on a proposal to introduce MF Lite which shall be exclusively for Passive Funds. What is MF lite? This is a new category of funds aimed to cater growing demand of Passive Funds. MF lite is to bring relaxed regulations for two scenarios 1) New Asset Management Companies (AMCs) wanting to enter market to cater passive funds only. This is aimed at bringing more players into the Fund Management Ecosystem. 2) Existing AMCs can have relaxed rules & disclosure framework for passive schemes launched under MF lite category plus their existing passive schemes. What is in it for retail investors? Advantages: * More players bring about a sense of competition. There will be introduction of Hybrid Passive schemes with different Risk combos. Below is an image of three categories. Debt oriented/ Balanced/ Equity oriented. Makes it simple for investors to bet on a particular index basis their risk profile. * MF Lite can bring about a sense of accountability of performance. This is critical for new AMCs getting launched exclusively for Passive Funds. * Any market that’s growing rapidly, will need influx of Passive Funds. This move can be an enabler. Disadvantages: * There are already a tons of products in the MF space. Introducing more & more products could create confusion at a retail investor level. * Fear of Missing Out (FOMO) shouldn’t push the investors to cut too thin by investing in multiple schemes in name of Diversification. * At its core, Passive Funds should enable investors understand the market through Major indices’ performance. This aspect shouldn’t be compromised by introducing complexity in name of innovation. To summarise, I feel this is a good step with a futuristic approach. I was reading a view of Radhika Gupta couple of days ago, on Passive Funds. Her point-we need to move beyond the buckets of Active vs Passive & choose funds in line with their individual merit. Guess, that pretty much sums up the entire story. Follow me for insights on Personal Finance & Wealth Management. Disc: views personal. Image sorce: ETmarkets.com from the article in ET published on Sep 27. #personalfinance #wealthmanagement #certifiedfinancialplanner

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FirstCry resubmits its IPO, with December revenue hitting 4,814 crore. Aims for $218 million in fresh funding. 1. FirstCry, a retailer specializing in baby and mother care products, has resubmitted its draft documents for an initial public offering (IPO). 2. The Securities and Exchange Board of India requested the resubmission due to inadequate disclosure of key performance indicators. 3. The proposed IPO size remains unchanged, with the company aiming to raise $218 million through fresh shares while existing investors plan to sell 54 million shares. 4. For the nine months ending December 2023, FirstCry reported a net loss of 278 crore on operating revenue of 4,814 crore. 5. Approximately 77% of its sales are online, with the remainder coming from offline retail stores. 6. Gross sales for the nine-month period totaled 5,650 crore. 7. FirstCry is expected to launch its IPO in July. #aaa #aaavaluation #valuation #legal #firstcry #IPO #lawyers #financial

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