Firstcry IPO opens for subscription tomorrow: GMP, issue details, 10 key things to know

Firstcry IPO: The omnichannel children's apparel company Brainbees Solutions Ltd., which operates under the FirstCry brand, is slated to debut (Tuesday, August 6) tomorrow for subscription. In terms of GMV (Gross Merchandise Value) for the Financial Year 2024, the company is India's top multi-channel retailer of products for moms, babies, and kids, according to the RedSeer Report. Additionally, it is growing in popularity in a few other nations. We provide Mothers', Babies', and Kids' items in India via our internet shop, modern stores owned by the firm, modern stores operated by franchisees, and general trade retail distribution.

With the intention of creating a one-stop shop for parenting requirements encompassing commerce, information, community participation, and education, the company launched the FirstCry platform in India in 2010. The firm has made limited international expansion, with a presence in the UAE and KSA in 2019 and 2022, respectively. Our goal is to replicate their successful model in India in these countries.

In its red herring prospectus, the company claimed that none of the listed companies were comparable in size or in the nature of their operation. It is thus impractical to compare their business to others in the sector.

Brainbees Solutions Limited's profit after tax (PAT) grew by 33.85% between March 31, 2024, and March 31, 2023, while its sales increased by 14.72% over the same period.

Here are the 10 key things to know about Firstcry IPO:

Firstcry IPO date: Brainbees Solutions IPO opens for subscription on Tuesday, August 6, and closes on Thursday, August 8.

Firstcry IPO price band: Brainbees Solutions IPO price band has been fixed in the range of ₹440 to ₹465 per equity share of face value of ₹2.

Firstcry IPO lot size: Brainbees Solutions lot size is 32 equity shares and in multiples of 32 equity shares thereafter.

Anchor investors: The allocation to anchor investors for Brainbees Solutions is scheduled to take place today (Monday, August 5).

Firstcry IPO details: The ₹4,193 crore Firstcry IPO consists of an offer-for-sale (OFS) of 54,359,733 equity shares by the selling shareholder, together with a new issuance of ₹1,666 crore.

Corporate selling shareholders in the OFS include TPG Growth V SF Markets Pte. Ltd. (3,899,525 equity shares), Mahindra & Mahindra Ltd. (2,806,174 equity shares), PI Opportunities Fund-1 (8,601,292 equity shares), and NewQuest Asia Investments III (4,141,043 equity shares).

Firstcry IPO objective: The company plans to utilise the net revenues to pay for the costs associated with building a new, modern facility and a warehouse in India. They are paying for plans to invest in its subsidiary as well as lease payments for their existing, well-known modern boutiques.

The company plans to finance inorganic expansion through acquisition and other strategic initiatives; general corporate; and operations related to sales and marketing, technology, and data science, including costs related to cloud and server hosting.

Firstcry IPO listing date and allotment details: It is tentative that on Friday, August 9, the Brainbees Solutions IPO basis for share allocation will be finalised. On Monday, August 12, the firm will begin reimbursements, and the shares will be credited to the allottees' demat account the same day after the refund. Brainbees Solutions share price is likely to be listed on BSE and NSE on Tuesday, August 13.

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

Firstcry IPO reservation: In the public offering, Firstcry IPO has set aside75% of the shares for qualified institutional buyers (QIB), 15% for non-institutional institutional investors (NII), and10% for retail investors. Up to ₹30 million worth of equity shares are included in the employee reservation section. When bidding in the workers reserve section, qualifying employees would receive a discount of ₹44 per equity share.

Firstcry IPO GMP today: Brainbees Solutions IPO GMP today or grey market premium is +55. This indicates Brainbees Solutions share price were trading at a premium of ₹55 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Brainbees Solutions share price was indicated at ₹520 apiece, which is 11.83% higher than the IPO price of ₹465.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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