FirstCry acquires BabyOye from Mahindra for ₹362.1 crore

Shopping store for kids and baby products, FirstCry on Saturday acquired rival BabyOye from owner Mahindra Retail for ₹362.1 crore. FirstCry has additionally raised $34 million of new equity capital from the Mahindra Group, equity fund Adveq, and Infosys Co-founder Kris Gopalakrishnan. FirstCry will now operate all BabyOye stores under its own franchise.