FirstCry IPO is now live: Check price, GMP, subscription status
Brainbees Solutions Limited, the parent company of FirstCry, has launched its Initial Public Offering (IPO) in the Indian primary market today. The public issue will be open until August 8. The company has set the price band for the FirstCry IPO at ₹440 to ₹465 per equity share and aims to raise ₹4,193.73 crore from this launch.
IPO comprises fresh issue and offer for sale
The FirstCry IPO includes a fresh issue of shares worth ₹1,666 crore and an offer for sale (OFS) of up to 5.4 crore shares with a face value of ₹2 per share. The allocation to anchor investors for Brainbees Solutions took place on Monday. By 2:50pm today, the issue had been subscribed 0.28x times, with the retail portion booked 0.37 times and the NII segment booked 0.03 times.
IPO listing and share allocation details
The IPO is proposed for listing on BSE and NSE. Following the 'T+3' listing rule, the mainboard IPO is expected to hit the Indian stock market on August 13. The share allocation for Brainbees Solutions's IPO is expected to be finalized on August 9.
Market response and expected listing price
In the grey market, Brainbees Solutions's share price was showing a premium of ₹44 at the time of writing, down from the earlier rate of ₹88. Considering the current premium and the upper end of the IPO price band, the estimated listing price of Brainbees Solutions share is indicated at ₹509 apiece. This translates to a gain of 9.6% on the IPO price of ₹465 per share.
FirstCry's plans for IPO revenues
Brainbees Solutions plans to use the net revenues from the IPO to finance various strategic initiatives. These include building a new, modern facility and a warehouse in India, investing in their subsidiary, making lease payments for their existing modern boutiques, financing inorganic expansion through acquisition, and meeting operation costs related to sales and marketing, technology, and data science.
FirstCry: A leading retailer for mother and child products
FirstCry is India's leading multi-channel retailer of products for mothers, babies, and kids. The company has achieved this status in terms of Gross Merchandise Value (GMV) for the financial year 2024. It sells its products online and through company-owned stores, franchisee-owned stores, and retail distribution. FirstCry also has a presence in international markets such as the UAE and Saudi Arabia.
