India: Firstcry revives talks with Temasek, approaches Tencent, too, for up to $150m funding

Visual from Firstcry website

India’s largest baby products retailer Firstcry is in talks to raise $100-150 million from new and existing investors as it seeks to increase its lead in the market, three people familiar with the matter said.

The Mahindra group-backed retailer has revived talks with Temasek and is also in talks with Chinese internet giant Tencent and a Chinese investment firm to raise its next round, one of the people said, requesting anonymity. Mint couldn’t ascertain the identity of the Chinese investment firm.

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