FirstCry IPO price range: The price range for each equity share of the ₹2 face value has been set by Brainbees Solutions Ltd., the company that operates omnichannel children’s clothing businesses under the FirstCry name. The Brainbees Solutions initial public offering (IPO) subscription period is set to begin on Tuesday, August 6 and end on Thursday, August 8. On Monday, August 5, the Firstcry IPO’s allocation to anchor investors is planned to occur.
The face value of the equity shares is multiplied by 220 times for the floor price and 232.50 times for the cap price. 32 equity shares are included in the Brainbees Solutions IPO lot size, and further lots of 32 equity shares are available.
In the public offering, Firstcry IPO has set aside a minimum of 75% of the shares for qualified institutional buyers (QIB), a maximum of 15% for non-institutional institutional investors (NII), and a maximum of 10% for retail investors. Up to ₹30 million worth of equity shares are included in the employee reservation section. When bidding in the employees’ reservation section, qualifying employees will receive a discount of ₹44 per equity share.
Allottees’ demat accounts will receive credit for their shares the day after the refund, with Brainbees Solutions tentatively finalizing the IPO basis of share allotment on Friday, August 9. The business will begin reimbursements on Monday, August 12. Tuesday, August 13, is probably when Brainbees Solutions’ stock price will be listed on the BSE and NSE.
The company is India’s top multi-channel seller of goods for moms, babies, and kids in terms of gross merchandise volume (GMV) for the 2024 fiscal year, according to the RedSeer Report. In certain other nations, it is also gaining popularity. The company uses our online store, modern stores that it owns and operates, modern stores run by franchisees, and general trade retail distribution to sell products for moms, babies, and kids in India.
The company established the FirstCry platform in India in 2010 with the goal of providing a one-stop shop for all parenting needs in the areas of commerce, content, community involvement, and education.
In its red herring prospectus, the corporation claimed that none of the listed companies were comparable in size or in the nature of their operation. It is therefore impractical to compare their business to others in the sector.
Brainbees Solutions Limited’s profit after tax (PAT) increased by 33.85% between March 31, 2024, and March 31, 2023, while its sales increased by 14.72% over the same period.
News reports state that in December of last year, BrainBees, the parent company of FirstCry, submitted draft IPO filings to the Securities and Exchange Board of India (Sebi). But when SEBI, the capital markets regulator, asked for further information about key performance indicators (KPIs), FirstCry withdrew their draft paperwork.
Firstcry IPO
The ₹4,193 crore Firstcry IPO consists of an offer-for-sale (OFS) by the selling shareholder for 54,359,733 equity shares, as well as a new issue of ₹1,666 crore.
Corporate selling shareholders in the OFS include TPG Growth V SF Markets Pte. Ltd. (3,899,525 equity shares), Mahindra & Mahindra Ltd. (2,806,174 equity shares), PI Opportunities Fund-1 (8,601,292 equity shares), and NewQuest Asia Investments III (4,141,043 equity shares).
The company plans to use the net revenues to pay for the costs associated with building a new, modern facility and a warehouse in India. They are paying for plans to invest in their subsidiary as well as lease payments for their existing, well-known contemporary boutiques.
The company plans to finance inorganic expansion through acquisition and other strategic initiatives; general corporate; and operations related to sales and marketing, technology, and data science, including costs related to cloud and server hosting.
The book running lead managers for the Brainbees Solutions (Firstcry) IPO are Jm Financial Limited, Morgan Stanley India Company Pvt Ltd, Kotak Mahindra Capital Company Limited, Bofa Securities India Limited, and Avendus Capital Pvt Ltd. Link Intime India Private Ltd. is the offering’s registrar.