FirstCry, operated by Brainbees Solutions Ltd., is opening its IPO for subscription from August 6 to August 8. The company is India’s top multi-channel retailer for mothers, babies, and kids’ products, and has a growing presence in the UAE and KSA.
IPO Price and Lot Size
The price band for the IPO is set between ₹440 and ₹465 per share, with a lot size of 32 shares. The allocation to anchor investors is scheduled for August 5.
Funds and Allocation Breakdown
The IPO aims to raise ₹4,193 crore, including an offer-for-sale (OFS) of 54,359,733 equity shares and a new issuance of ₹1,666 crore. Notable corporate shareholders in the OFS include TPG Growth V SF Markets Pte. Ltd., Mahindra & Mahindra Ltd., PI Opportunities Fund-1, and NewQuest Asia Investments III.
Use of Funds
The funds will be used to build a new facility and warehouse, invest in a subsidiary, cover lease payments for existing boutiques, support acquisitions, and general corporate expenses. Additionally, the funds will support sales and marketing, technology upgrades, and data science initiatives.
Listing and Share Allocation Timeline
The final share allocation will be confirmed by August 9, with refunds starting on August 12. Shares will be credited to demat accounts on the same day. The company’s shares are expected to list on the BSE and NSE on August 13.
Reserved Share Categories
The IPO reserves 75% of the shares for qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and 10% for retail investors. An additional reservation of up to ₹30 million worth of shares is available for employees, who will receive a discount of ₹44 per share.
Grey Market Premium (GMP)
The grey market premium (GMP) for the Brainbees Solutions IPO is currently +55, indicating a premium of ₹55 over the issue price. This suggests a potential listing price of ₹520 per share, reflecting an 11.83% increase over the maximum IPO price of ₹465. The GMP highlights strong investor interest, anticipating a favorable listing.
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