FirstCry IPO News : The IPO (New IPO) of Brainbees Solutions, which runs the omni-channel kidswear business under the FirstCry brand, is going to be launched on August 6. FirstCry has fixed the price band for its IPO at Rs 440 to Rs 465 per share. While the size of the IPO is Rs 4194 crore. Retail investors will be able to subscribe to the IPO till August 8. While it will open for anchor investors on August 5 itself.
About IPO
The size of FirstCry’s IPO is Rs 4194 crore. In this, fresh equity shares worth Rs 1666 crore will be issued. While 5.4 crore shares worth Rs 2,527.73 crore will be sold through OFS Offer for Sale (OFS). According to the IPO, the value of the company has been estimated at Rs 22,475 crore.
Mahindra & Mahindra intends to sell 28.06 lakh shares in the IPO through the Offer for Sale. 20,318,050 shares will be sold by SVF Frog managed by SoftBank. Other participants in the Offer for Sale (OFS) include PI Opportunities Fund, TPG Growth, NewQuest Asia, Apricot Investments, Satyadharma Investments, Schroders Capital, Sage Investment and Pratithi Investment.
Ratan Tata, who had acquired 0.02 per cent stake in the startup for Rs 66 lakh, plans to sell all his 77,900 shares in the IPO. The average acquisition cost per share is Rs 84.72, as mentioned in the RHP. This makes his total investment in the company around Rs 66 lakh.
How much reserve for whom
In FirstCry’s IPO, 10 percent share is reserved for retail investors. At the same time, 75 percent share is reserved for qualified institutional investors i.e. QIB. While 15 percent share is reserved for non-institutional investors i.e. NII. Quota has also been kept for the employees of the company, under which they will get a discount of Rs 44 per share.
what is the lot size
This IPO has a lot size of 32 shares. That is, at the upper price band of Rs 465, retail investors will have to invest at least Rs 14,880. While they will be able to bid for a maximum of 13 lots. That is, the maximum investment can be Rs 193,440.
Second attempt for IPO
Investors in the market have been waiting for the company’s proposed IPO for a long time. The company filed a fresh draft for its IPO on April 30. Earlier, the company had submitted the draft for the first time in December 2023, but it withdrew the first draft after SEBI sought more information.
FirstCry is a big retail brand in the child care category. The company sells various child care products including children’s clothes in many major cities across the country through online and offline stores. The company is currently running more than 100 stores in 85 cities. The company sells more than 90 thousand products of 12 hundred brands including Funskool, Farlin, Mattel, Pampers, Disney.
