FirstCry, the popular retail brand for baby and kids’ products operated by Brainbees Solutions Ltd, made a strong entrance on the stock market today. The shares were listed at ₹651 each on the NSE, which is 40% higher than the IPO price of ₹465 per share.
On the BSE, FirstCry shares opened at ₹625 each, reflecting a 34.41% increase from the issue price.
This impressive debut was anticipated by the market, with the grey market predicting a strong opening for FirstCry shares. The grey market premium (GMP) for the FirstCry IPO was ₹80, about 17% higher than the top price band of the IPO.
Details of the FirstCry IPO:
- The IPO for Brainbees Solutions Ltd was open for subscription from August 6 to August 8.
- The price range for the IPO was set between ₹440 and ₹465 per share.
- The company raised ₹4,193.73 crore at the higher end of this price range.
- The offering included a fresh issue of 3.58 crore shares worth ₹1,666 crore and an offer for sale (OFS) of 5.44 crore shares totaling ₹2,527.73 crore.
- The IPO was oversubscribed 12.22 times, with strong interest from retail investors, Qualified Institutional Buyers (QIBs), and Non-Institutional Investors (NIIs).
FirstCry is India’s largest retail platform for mothers, babies, and kids, and is expanding its reach internationally. In FY24, the company reported net sales of ₹6,480.9 crore and an EBITDA of ₹70.5 crore but posted a net loss of ₹321.5 crore.
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