Firstcry IPO: Price band set at ₹440-465 per share; check issue details, key dates more

Firstcry IPO price band: Brainbees Solutions Ltd, which runs omnichannel children's clothing enterprises under the FirstCry brand, price band has been fixed in the range of ₹440 to ₹465 per equity share of the face value of ₹2. The Brainbees Solutions IPO date of subscription is scheduled for Tuesday, August 6, and will close on Thursday, August 8. The allocation to anchor investors for the Firstcry IPO is scheduled to take place on Monday, August 5.

The floor price and the cap price are 220 times and 232.50 times the face value of the equity shares respectively. The Brainbees Solutions IPO lot size is 32 equity shares and in multiples of 32 equity shares thereafter.

Firstcry IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. The employee reservation portion has equity shares aggregating up to ₹30 million. A discount of ₹44 per equity share is being offered to eligible employees in bidding in the employees reservation portion.

Tentatively, Brainbees Solutions IPO basis of allotment of shares will be finalised on Friday, August 9, and the company will initiate refunds on Monday, August 12, while the shares will be credited to the demat account of allottees on the same day following refund. Brainbees Solutions share price is likely to be listed on BSE and NSE on Tuesday, August 13.

According to the RedSeer Report, the firm is the leading multi-channel retailer of Mothers', Babies', and Kids' items in India in terms of GMV for the Financial Year 2024. It is also becoming more and more popular in a few foreign countries. The company sells Mothers', Babies', and Kids' items in India via our online shop, modern stores owned by the company, modern stores operated by franchisees, and general trade retail distribution.

With the intention of creating a one-stop shop for all parenting requirements in the areas of commerce, content, community participation, and education, the firm launched the FirstCry platform in India in 2010.

The company stated in its red herring prospectus that no listed companies were either of a similar size or engaged in a similar business to theirs. As a result, it is not feasible to compare their company to others in the industry.

Between March 31, 2024, and March 31, 2023, Brainbees Solutions Limited's profit after tax (PAT) climbed by 33.85%, while its revenue increased by 14.72%.

According to news reports, the parent company of FirstCry, BrainBees, first submitted draft IPO documents for an IPO to the Securities and Exchange Board of India (Sebi) in December of last year. However, FirstCry withdrew their draft documents when SEBI, the capital markets regulator, requested further clarification about key performance indicators (KPIs).

Firstcry IPO details

Firstcry IPO, which is worth ₹4,193 crore, comprises a fresh issue of ₹1,666 crore, and an offer-for-sale (OFS) of 54,359,733 equity shares by the selling shareholder.

In the OFS, the corporate selling shareholders are SVF Frog (Cayman) Ltd (20,318,050 equity shares), Mahindra & Mahindra Ltd (2,806,174 equity shares), PI Opportunities Fund- 1 (8,601,292 equity shares), TPG Growth V SF Markets Pte. Ltd. (3,899,525 equity shares), NewQuest Asia Investments III (4,141,043 equity shares).

The firm intends to utilise the net proceeds to fund expenditures for the establishment of a new, contemporary facility and a warehouse in India. Lease payments for their current, recognised contemporary stores as well as plans for investment in their subsidiary are being spent.

The business intends to support activities relating to sales and marketing, technology and data science, including expenses associated with cloud and server hosting; financing inorganic expansion through acquisition and other strategic initiatives; and general corporate.

The Brainbees Solutions (Firstcry) IPO's book running lead managers are Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Pvt Ltd, Bofa Securities India Limited, Jm Financial Limited, and Avendus Capital Pvt Ltd. The registrar for the offering is Link Intime India Private Ltd.

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