Three family investment offices from India Inc, including Ranjan Pai’s Manipal Group, Harsh Mariwala’s Marico, and Hemendra Kothari’s DSP family office, have invested a total of Rs 435 crore in FirstCry, a kids and baby product online retailer. The investments were made by buying stakes from SoftBank, FirstCry’s largest investor. FirstCry is preparing for an IPO and has been looking to increase local ownership and dilute foreign shareholders. The company plans to expand its omnichannel operations and aims to open 3,000 physical stores in the next few years. In addition to SoftBank, Premji Invest and Mahindra Retail are also key investors in FirstCry.