Firstcry IPO: Price band fixed at ₹440-465 per share, ₹4,193-crore public issue opens on August 6

Brainbees Solutions Limited, which operates baby products e-commerce platform Firstcry, has announced the price band for its initial public offering (IPO). Firstcry IPO price band has been fixed at ₹440 to ₹465 apiece.

The subscription window for the baby products focused company’s public issue is scheduled to open on August 6. The anchor round will be held on August 5 ahead of the launch.

Firstcry IPO share allotment status is likely to be finalised on August 9. Subsequent to the allotment, the shares of the company will list on the BSE and NSE. The tentative listing date for the mainboard issue is August 13.

Brainbees Solutions Limited, the owner of Firstcry, aims to raise ₹4,193.73 crore via the IPO. The mainboard IPO consists of a fresh issue of 3.58 crore shares worth ₹1,666 crore and an offer-for-sale (OFS) of 5.44 crore shares, aggregating to ₹2,527.73 crore.

Retail investors interested in applying for the public issue, can bid for a minimum of 1 lot of 32 shares, which aggregates to an investment of ₹14,880. Small Non-Institutional Investors (sNII) can bid for a minimum lot size of 14 lots (448 shares) by investing ₹2,08,320. Big Non-Institutional Investors (bNII) can bid for a minimum lot size of 68 lots (2,176 shares), aggregating to an investment of ₹10,11,840.

Earlier in December 2023 BrainBees, the parent company of FirstCry, had filed its draft IPO papers with the Securities and Exchange Board of India (Sebi). The company however withdrew its draft papers after SEBI asked the company to provide more clarity on some key performance indicators (KPIs), according to reports. The company later re-filed its papers, providing more details regarding its KPIs.

Firstcry key financials

Firstcry’s revenue surged nearly 15% to ₹6,575.08 crore in FY24 compared to ₹5731.28 crore in FY23. The company’s net loss narrowed to ₹321.51 crore in FY24 compared to a net loss of ₹486.06 crore in FY23. The company’s net worth fell over 8% to ₹3,170.74 crore in FY24 compared to ₹3,456.26 crore in FY23.

Firstcry IPO objective

Firstcry plans to use the money raised via the public issue for establishing stores under the "BabyHug" brand and a warehouse in India. The company also plans to use the money raised via the public issue for lease payments for existing stores the company has in India.

A portion of the proceeds will also be used for making investments in the company’s subsidiaries Digital Age and FirstCry Trading. Additionally, the money will also be used for technology and data science costs such as cloud and server hosting.

About Firstcry

Brainbees Solutions Ltd was founded in 2010. The company offers products of third-party suppliers, global manufacturers, and its own brands. The company’s product portfolio caters to the needs of mothers, babies, and kids up to the age of 12.

The company had a network of over 900 contract manufacturers in India and abroad for its own brands. The company employed 3,411 full-time employees and 2,475 employees on a contract basis as of December 31, 2023.