Firstcry IPO day 1: GMP, review, subscription status, other details. Should you apply for shares of Brainbees Solutions

Firstcry IPO: The initial public offering (IPO) of the Firstcry brand parent company, Brainbees Solutions Limited, has hit the Indian primary market today. Brainbees Solutions IPO's public issue will remain open until 8th August 2024, i.e., Thursday this week. Brainbees Solutions Limited has fixed the Firstcry IPO price band at ₹440 to ₹465 per equity share, and the mainboard IPO is proposed for listing on BSE and NSE. The company aims to raise ₹4,193.73 crore from its Firstcry IPO launch, out of which ₹1,666 crore is aimed through the issuance of fresh shares. Meanwhile, Firstcry shares are available on the grey market. According to stock market observers, Brainbees Solutions' share price is at a premium of ₹84 in the grey market today.

Firstcry IPO subscription status

By 1:21 PM on day one of bidding, the public issue had been subscribed 0.07 times, the retail portion of the book build issue had been booked 0.32 times, and the NII segment had been booked 0.04 times.

Important Firstcry IPO details

1] Firstcry IPO GMP: Market observers say Brainbees Solutions' share price is available at a premium of ₹84 in the grey market today.

2] Firstcry IPO price: Firstcry brand parent Brainbees Solutions Limited has fixed the Firstcry IPO price band at ₹440 to ₹465 per equity share.

3] Firstcry IPO date: The public issue has opened today and will remain open till 8th August 2024.

4] Firstcry IPO size: The company aims to raise ₹4,193.73 crore from its initial offer, out of which ₹1,666 crore is aimed through the issuance of fresh shares.

5] Firstcry IPO lot size: A bidder can apply in lots, and one lot of the book build issue comprises 32 Brainbees Solutions shares.

6] Firstcry IPO allotment date: Share allocation can be expected on Friday, August 9th, 2024.

7] Firstcry IPO registrar: Link Intime India Private Limited has been appointed the initial public offer's official registrar.

8] Firstcry IPO lead managers: Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India, JM Financial, and Avendus Capital have been appointed lead managers of the book build issue.

9] Firstcry IPO listing date: The public issue is proposed for listing on BSE and NSE. In the wake of the 'T+3' listing rule, the mainboard IPO is expected to hit the Indian stock market on Tuesday, August 13th, 2024.

Firstcry IPO: Apply or not?

10] Firstcry IPO review: Advising investors to apply for the listing gain, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, said, "Despite having numerous outlets worldwide and a growing top line, the company has reported losses in recent periods. The issue is priced at a negative P/E based on its negative earnings. We anticipate a muted listing at around a 20 percent premium."

Highlighting upon the fundamentals of Firstcry IPO, Akriti Mehrotra, Research Analyst at StoxBox, said, "FirstCry, a leader in multi-channel retail for children's and maternal products, excels in customer engagement through its integrated physical and online platforms. While the company benefits from strong network effects and efficient inventory management, it faces serious challenges. Despite a 15% increase in revenue to Rs. 6,575.1 crores in FY24, FirstCry reported a loss of Rs. 321.5 crores and experienced a significant rise in debt from Rs. 176.5 crores to Rs. 462.7 crores. The current fundraise is focused on operational needs rather than debt reduction. Persistent negative cash flows, regulatory issues, and legal troubles add to its financial strain."

Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.