Firstcry IPO Day 2 Highlights: Issue subscribed 30%, retail investors lead; check details

Issue subscribed 30% on day 2 of bidding.

Category-wise subscription

• Qualified institutional buyers (QIBs): 03%
• Non-institutional investors (NIIs): 30%
• Retail individual investors (RIIs): 1.06 times
• Employees: 3.44 times

Founded in 2010, Brainbees Solutions Limited operates an online platform, FirstCry.com, which provides a wide range of products for mothers and babies. Catering to the needs of kids up to the age of 12, the company offers everything from apparel, footwear and baby gear to nursery items, diapers, toys and personal care products.

Issue subscribed 26% on day 2 of bidding.

Category-wise subscription

• Qualified institutional buyers (QIBs): 03%
• Non-institutional investors (NIIs): 23%
• Retail individual investors (RIIs): 95%
• Employees: 3.29 times

Brainbees Solutions Limited intends to use the net proceeds from the IPO for several key initiatives. This includes setting up modern stores under the ‘BabyHug’ brand and establishing a warehouse in India. The funds will also cover lease payments for existing stores and support investments in its subsidiary Digital Age for new store openings and lease payments.

Additionally, the IPO will finance the expansion of its subsidiary FirstCry Trading into Saudi Arabia, with new stores and warehouses. The proceeds will help acquire additional stakes in its subsidiary Globalbees Brands and support sales and marketing efforts, technology and data science costs, as well as inorganic growth through acquisitions and general corporate purposes.

The subscription period for the Brainbees Solutions (Firstcry) IPO closes on August 8. The basis of allotment for the public issue is scheduled for Friday, August 9. Following this, refunds for unsuccessful applicants will be processed on Monday, August 12. On the same day, successful applicants will get the credit of their shares to their Demat accounts. The IPO is set to be listed on the stock exchanges on Tuesday, August 13.

Issue subscribed 17% on day 2 of bidding.

Category-wise subscription

• Qualified institutional buyers (QIBs): 0%
• Non-institutional investors (NIIs): 12%
• Retail individual investors (RIIs): 71%
• Employees: 2.63 times

Firstcry IPO price band is set between ₹440 and ₹465 per share. Retail investors can apply for a minimum of one lot, comprising 32 shares, aggregating to an investment of ₹14,880.

Firstcry IPO LIVE: The Brainbees Solutions (Firstcry) IPO is a book-built issue valued at ₹4,193.73 crore. The mainboard public offer consists of a fresh issue of 3.58 crore shares, worth ₹1,666 crore, and an offer-for-sale component of 5.44 crore shares, amounting to ₹2,527.73 crore.

The public offer is open for subscription from August 6 to August 8. Shares of Brainbees Solutions Ltd will be listed on the NSE and BSE. The tentative listing date has been scheduled as August 13.