 "Firstcry IPO to open on August 6; Here's all you need to know about issue")
Firstcry IPO: The initial public offering (IPO) of Brainbees Solutions, the parent company of kidswear brand FirstCry, is scheduled to open for public subscription from Tuesday, August 6, 2024, to Thursday, August 8, 2024. FirstCry is India's leading e-commerce company in the kids and babies shopping sector, established in 2010 by Supam Maheshwari and Amitava Saha, with its headquarters in Pune. Through this public issue, the company aims to raise Rs 4,193.73 crore.
As investors await the subscription window to open for FirstCry IPO, here are some key details that you should know before bidding for the public issue.
Fristcry IPO issue size
The public issue of FirstCry is a book-built issue comprising a fresh issue of 35,827,957 shares aggregating up to Rs 1,666 crore and an offer for sale (OFS) of 54,359,733 shares with a face value of Rs 2 apiece. The OFS shares are worth approximately Rs 2,527.73 crore. The company 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.
Fristcry IPO lot size, price band
FirstCry IPO will be available at a price band of Rs 440-465 per share. The lot size for the public issue is 32 shares. 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. A retail investor can bid for a maximum of 13 lots or 416 shares, amounting to Rs 193,440.
Fristcry IPO registrar details
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Link Intime India is the registrar for the Brainbees Solutions IPO. 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 likely to take place on Friday, August 9, 2024, with the shares being credited into demat accounts on Monday, August 12, 2024. The shares are scheduled to debut on the BSE and NSE on Tuesday, August 13, 2024.
Fristcry financial details
The company's revenue from operations stood at Rs 6,480.85 crore in FY24, up from Rs 5,632.53 crore in FY23 and Rs 2,401.28 crore in FY22, as per the RHP papers. In FY24, FirstCry's net loss contracted to Rs 321.50 crore from Rs 486.05 crore in FY23.
Fristcry IPO objective
The company seeks to use the net proceeds from the public issue to cover expenses for establishing new modern stores under the BabyHug brand and for the establishment of a warehouse in India. Additionally, proceeds will be used for expenditure on lease payments for existing identified modern stores owned and operated by the company in India; investments in its subsidiary Digital Age for setting up new modern stores under the FirstCry brand; and investment in subsidiary FirstCry Trading for overseas expansion, including the establishment of new modern stores and warehouses in KSA. The proceeds will also be used for acquiring an additional stake in its subsidiary Globalbees Brands, as well as for financing inorganic growth through acquisitions, other strategic initiatives, and general corporate purposes.