August 7, 2024
New Delhi, India
Brainbees Solutions IPO Day 2 Updates
The Brainbees Solutions IPO, operating under the FirstCry brand, is currently in its subscription phase. The IPO opened on August 6 and will close on August 8, with a price band set between ₹440 and ₹465 per share. This article provides live updates on the subscription status, analysts’ reviews, and key details about the IPO.
Key Details of Brainbees Solutions IPO:
- IPO Overview:
- Total Value: ₹4,193.73 crore
- Fresh Issue: 3.58 crore equity shares aggregating to ₹1,666.00 crore
- Offer for Sale (OFS): 5.44 crore shares totaling ₹2,527.73 crore
- Subscription Timeline:
- IPO Open Date: August 6, 2024
- IPO Close Date: August 8, 2024
- Allotment Date: Expected on August 9, 2024
- Listing Date: Expected on August 13, 2024
- Price Band and Lot Size:
- Price Band: ₹440 to ₹465 per share
- Lot Size: Minimum of 32 shares, aggregating to an investment of ₹14,880
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Live Updates:
- Day 2, 12:30 pm:
- The IPO is subscribed 12% so far on the second day of bidding.
- Retail investors have led the subscription, bidding for 69.36 lakh shares against 90.12 lakh shares on offer.
- Day 2, 11:39 am:
- The subscription status shows the IPO is subscribed 17% on the second day of bidding.
- Category-wise Subscription:
- Qualified Institutional Buyers (QIBs): 0%
- Non-Institutional Investors (NIIs): 12%
- Retail Individual Investors (RIIs): 71%
- Employees: 2.63 times
Analysts’ Review: Analysts have a positive outlook on the FirstCry IPO, highlighting the company’s strong market position in the baby and kids’ products segment. The combination of a fresh issue and an OFS allows the company to raise capital for expansion while providing an exit for existing shareholders.
Grey Market Premium (GMP): The grey market premium for FirstCry shares has been fluctuating, with the current GMP indicating a positive sentiment among investors.
Disclaimer:
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