Directions: Read the passage given below and answer the questions that follow by choosing the correct/most appropriate options:

Japan’s SoftBank and NewQuest Capital Partners are among investors seeking to sell shares of IPO-bound FirstCry in the secondary market, valuing the omnichannel baby products retailer in the range of $3.5-4 billion, according to several people in the know.

Masayoshi Son-led SoftBank, which is the biggest investor in the company with a 29% stake, wants to reduce its shareholding to less than 25%, another person aware of the matter said. The discussions are happening at a time the Pune-based company is looking to pare its foreign ownership while bringing in domestic private equity funding in the runup to filing its initial public offer (IPO) papers in the next few months. FirstCry has held talks with Mumbai-based private equity firm Kedaara Capital, asking it to participate in the second round, multiple people said on condition of anonymity.

Sources privy to the developments said the company is “planned to file its draft red herring prospectus (DRHP) very soon”.

"This is akin to a pre-IPO deal which will set the price for the company and ideally they want to bring on board domestic funds," one of the persons told ET. The person cited the example of Premji Invest — the family investment vehicle of Wipro founder chairman Azim Premji — which had upped its stake during (FirstCry’s) previous secondary round when the National Investment and Infrastructure Fund’s proposed investment fell through. FirstCry, which is a vertical eCommerce platform, is currently valued at around $2.7 billion, which was ascribed to it earlier this year when Premji bulked up its ownership via a secondary share deal in April. According to a person aware of the matter, Premji Invest owns ______ 9-11% stake in the firm, Mahindra Retail holds 12-13% and US private equity major TPG has 5-6%.

People familiar with its IPO plan said the company is aiming to go public at a $6-7 billion valuation given that it is a rare example of a profitable eCommerce firm, having recorded net earnings in the financial year 2021. "There are multiple sets of investors looking to participate in the pre-IPO secondary round. The company is still keen on its IPO plans and the matter will be discussed in its next board meeting," another person privy to the discussions said.

If the company files for an IPO, it will be the first new-age tech startup to do so after logistics player Delhivery’s public float in May amid a largely skittish market. Economic Times reported on May 16 that FirstCry had hit pause on its plans to file papers for the initial public offering (IPO) following the downturn in sentiments that hit the global economy. Emailed queries sent to SoftBank and NewQuest did not elicit a response while Supam Maheshwari, CEO, FirstCry declined to comment.