August 6, 2024
New Delhi, India
IPO Watch
The initial public offering (IPO) of FirstCry’s parent company, Brainbees Solutions Limited, has launched today, aiming to raise ₹4,193.73 crore. Here’s everything you need to know before subscribing.
Key Highlights:
- IPO Composition:
- The IPO consists of a fresh issue of shares worth ₹1,666 crore.
- An offer for sale (OFS) of up to 5.4 crore shares with a face value of ₹2 per share.
- IPO Price Band:
- The price band for the FirstCry IPO is set at ₹440 to ₹465 per equity share.
- IPO Dates:
- The public issue opened today and will remain open until August 8, 2024.
- IPO Size:
- Brainbees Solutions aims to raise ₹4,193.73 crore from this IPO.
- ₹1,666 crore of this is through the issuance of fresh shares.
- Investors can apply in lots, with one lot comprising 32 Brainbees Solutions shares.
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- Grey Market Premium:
- As of today, FirstCry shares are available at a premium of ₹84 in the grey market.
- Allotment Date:
- Share allocation is expected on Friday, August 9, 2024.
- Registrar:
- Link Intime India Private Limited is the official registrar for the IPO.
- Lead Managers:
- The IPO is managed by Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India, JM Financial, and Avendus Capital.
- Listing Date:
- The public issue is proposed for listing on BSE and NSE.
- According to the ‘T+3’ listing rule, it is expected to hit the Indian stock market on Tuesday, August 13, 2024.
- Company Overview:
- FirstCry is India’s largest multi-channel retailing platform for mothers’, babies’, and kids’ products, based on GMV for the financial year 2024.
- The company sells products online, through company-owned stores, franchisee-owned stores, and retail distribution.
The FirstCry IPO presents an exciting investment opportunity with substantial market interest. With a robust business model and significant market presence, investors should carefully consider the details before making a decision.
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
