Firstcry IPO opens for subscription: Check issue size, price band, key dates and more

The initial public offering of online e-commerce platform FirstCry's parent Brainbees Solutions Limited opened for subscription on Tuesday, August 6. The IPO, which has set a price band of ₹440-₹465 per equity share, will conclude on August 8.

The ₹4,194 crore IPO is a mix of a fresh issuance of shares aggregating to ₹1,666 crore and an offer-for-sale (OFS) component of 5.44 crore shares valued at ₹2,528 crore by existing shareholders.

Under the OFS, Softbank's Cayman Islands-registered entity SVF Frog will offload 2.03 crore shares, while carmaker Mahindra & Mahindra will sell 28.06 lakh equity shares in the company. Softbank's stake in Brainbees Solutions stands at 25.55%, while that of M&M is 10.98%.

Other shareholders selling their stake in the OFS are TPG, PI Opportunities Fund, NewQuest Asia Investments, Schroders Capital and Apricot Investments. Moreover, individuals selling shareholders include veteran industrialist Ratan Tata.

Brainbees collects ₹1,886 crore from anchor investors

On Monday, the company had mobilised ₹1,886 crore from anchor investors, including the Government of Singapore, Abu Dhabi Investment Authority, Fidelity Funds, Nomura Funds, Citigroup Global Markets Mauritius, Goldman Sachs Funds, SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Kotak MF and SBI Life Insurance Company.

Brainbees Solutions allotted over four crore shares to 71 funds at ₹465 apiece, taking the transaction size to ₹1,886 crore, according to a circular uploaded on BSE's website.

The fresh issue proceeds will be used to open stores under the 'BabyHug' brand, expand overseas, invest in subsidiaries, implement sales and marketing initiatives, and for general corporate purposes.

About Firstcry

Launched in 2010, FirstCry is India's largest multi-channel, multi-brand retailing platform for products for mothers, babies, and kids. It was set up to create a one-stop destination for parenting needs across commerce, content, community engagement, and education based on brand affinity, loyalty, and trust of customers.

Further, FirstCry expanded internationally in select markets, establishing a presence in the United Arab Emirates (UAE) and Kingdom of Saudi Arabia (KSA) in 2019 and 2022, respectively.

BofA Securities India Ltd, Kotak Mahindra Capital Company Ltd, JM Financial Ltd, Morgan Stanley India Company Private Ltd, and Avendus Capital Private Ltd are the book-running lead managers to the issue.