FirstCry sets IPO price band at ₹440-465 per share
Brainbees Solutions Ltd, the parent company of FirstCry, has announced its initial public offering (IPO) price range as ₹440-465 per share. The IPO is set to open on August 6, with anchor bidding beginning a day before. The issue will close on August 8. The allotment basis will be determined on August 9, with refunds and shares credited to accounts by August 12. The company plans to list on the stock exchange on August 13.
FirstCry's IPO comprises fresh issue worth ₹1,666 crore
The IPO includes a fresh issue of ₹1,666 crore. At the upper price band, the Offer for Sale (OFS) is valued at ₹2,527.72 crore. This brings the total issue size to ₹4,187.72 crore and the total market cap to ₹22,475 crore or $2.68 billion. FirstCry had initially filed draft IPO papers with India's Securities and Exchange Board of India (SEBI) in December last year but withdrew them after SEBI requested more clarity on key performance indicators (KPIs).
FirstCry reported revenue increase in FY24
Upon refiling its IPO papers, FirstCry provided more detailed financial information. The Pune-based company reported a revenue increase from ₹5,632.54 crore in FY23 to ₹6,480.86 crore in FY24. FirtCry's losses also reduced from ₹486.01 crore in FY23 to ₹321.51 crore in FY24. Its EBITDA stood at ₹70.49 crore against an EBITDA loss of ₹262.90 crore last year due to high capital expenditure for new stores and warehouses poses financial risks.
FirstCry is India's leading multi-channel retailer for kidswear
FirstCry operates as India's leading multi-channel retailer for mothers, babies, and kids products. It operates online, through company-owned and franchise stores, and general trade distribution. The company is also expanding into select international markets. FirstCry offers over 1.65 million SKUs from 7,580 brands, covering apparel, footwear, baby gear, and more. The FirstCry app has been downloaded over 127 million times in India.
