 "FirstCry IPO opens today: 7 things to know before you bid for the issue")
FirstCry IPO opens today: The initial public offering (IPO) of Brainbees Solutions, the parent company of the kidswear brand FirstCry, opens for public subscription today. The company aims to raise Rs 4,193.73 crore from the public issue. Established in 2010 by Supam Maheshwari and Amitava Saha, FirstCry is one of India's leading e-commerce companies in the kids and babies shopping sector, with its headquarters in Pune.
The three-day subscription window for the FirstCry IPO closes on Thursday, August 8, 2024.
Here are 7 things to know before you bid for the FirstCry IPO:
FirstCry IPO details
The public issue of FirstCry comprises a fresh issue of 35,827,957 shares, aggregating up to Rs 1,666 crore, and an offer for sale of 54,359,733 shares with a face value of Rs 2 per share, aggregating up to Rs 2,527.73 crore. For the IPO, FirstCry has reserved 75 per cent of the net offer for qualified institutional buyers, not more than 10 per cent for retail investors, and not more than 15 per cent for non-institutional investors.
FirstCry IPO lot size, price and
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FirstCry IPO is available at a price band of Rs 440-465 per share with a lot size of 32 shares of the company. Accordingly, investors can bid for a minimum of 32 shares of FirstCry and in multiples thereof. The minimum amount required by a retail investor to bid for the FirstCry IPO is Rs 14,880.
FirstCry IPO GMP
The unlisted shares of the company are commanding a moderate premium on the first day of subscription. According to several websites that track grey market activities, FirstCry shares are trading at a premium of Rs 45, or nearly 10 per cent above the upper end of the issue price of Rs 465, indicating moderate listing gains for investors.
FirstCry IPO objective
The company plans to use the public issue proceeds to expand its retail presence in India by setting up new stores and warehouses and investing in its subsidiaries for domestic and international growth. Additionally, the funds will be used for strategic acquisitions, investing in existing subsidiaries, and general corporate purposes, including acquiring a stake in Globalbees Brands.
FirstCry IPO registrar details
The company has appointed Link Intime India as the registrar for the IPO, while Kotak Mahindra Capital Company, Morgan Stanley India Company, Bofa Securities India, JM Financial, and Avendus Capital are the book-running lead managers of the public issue.
FirstCry allotment, listing dates
The basis of allotment of FirstCry shares is scheduled for Friday, August 9, 2024. The company's shares are likely to be credited into demat accounts on Monday, August 12, 2024. The shares of FirstCry are expected to debut on the BSE and NSE on Tuesday, August 13, 2024.
FirstCry key financial details
Brainbees Solutions' revenue from operations jumped to Rs 6,480.85 crore in FY24 from Rs 5,632.53 crore in FY23 and Rs 2,401.28 crore in FY22, according to the RHP papers. However, the company's net loss contracted to Rs 321.50 crore in FY24 from Rs 486.05 crore in FY23.