FirstCry CEO's Remuneration Drops 49% to Rs 8.6 Crore Ahead of IPO
Financial Details and IPO Preparations Revealed in Revised Draft Red Herring Prospectus
Supam Maheshwari, CEO of FirstCry, experienced a significant reduction of 49% in his monthly remuneration, now standing at Rs 8.6 crore for the first three quarters of FY24. This decrease, as detailed in the company's revised draft red herring prospectus filed with SEBI, is attributed to share transactions preceding the IPO filing. Maheshwari's stake in the company also reduced due to these transactions, positioning him as a selling shareholder in the upcoming public offering. The document also sheds light on the remuneration of other key managerial personnel, alongside financial insights and operational KPIs, as FirstCry prepares for its IPO at an estimated valuation of $3.5-3.75 billion.