Firstcry IPO: Brainbees Solutions IPO opens on Aug 6 – Check issue details, GMP
Brainbees Solutions Limited, more popularly known as FirstCry, is set to make its debut on the Indian stock market with its much-anticipated Initial Public Offering (IPO). As India’s largest online platform dedicated to mothers, babies, and kids, FirstCry has carved a niche for itself by offering a wide range of products and services.
Company Overview: FirstCry’s Journey
Founded in 2010, FirstCry has rapidly expanded its footprint across India, becoming a household name for parents. The company offers a comprehensive range of products, including apparel, toys, baby care, maternity wear, and more. Beyond its e-commerce platform, FirstCry has established a strong offline presence through its chain of retail stores, making it a preferred one-stop shop for parents’ needs.
IPO Details
Issue Type: Book Built Issue
Issue Size: The IPO comprises a combination of fresh issue and offer for sale, amounting to a total issue size up to ₹4,193.73 Cr
Price Band: ₹440 to ₹465 per share
Market Lot: 32 shares
Issue Open Date: August 6, 2024
Issue Close Date: August 8, 2024
Listing Exchange: NSE, BSE
Objective of Brainbees Solutions (Firstcry) IPO
- Expenditure by our Company for: (i) setting up new modern stores under the “BabyHug” brand; and (ii) setting up a warehouse, in India;
- Expenditure for lease payments for our existing identified modern stores owned and operated by our Company, in India;
- Investment in our Subsidiary, Digital Age for: (i) setting up new modern stores under the FirstCry brand and other home brands of our Company; and (ii) lease payments for our existing identified modern stores owned and controlled by Digital Age, in India;
- Investment in our Subsidiary, FirstCry Trading for overseas expansion by: (i) setting up new modern stores; and (ii) setting up warehouse(s), in KSA;
- Investment in our Subsidiary, Globalbees Brands towards acquisition of additional stake in our stepdown Subsidiaries;
- Sales and marketing initiatives;
- Technology and data science cost including cloud and server hosting related costs; and
- Funding inorganic growth through acquisition and other strategic initiatives and general corporate
Brainbees Solutions (Firstcry) IPO GMP
The Grey Market Premium (GMP) for the Brainbees Solutions (Firstcry) IPO is fluctuating but currently stands around ₹95.
GMP is not an official price and can be volatile.
It is essential to conduct thorough research and consider various factors before investing in an IPO.
Important Dates
IPO Open Date : Tuesday, August 6, 2024
IPO Close Date : Thursday, August 8, 2024
Basis of Allotment : Friday, August 9, 2024
Initiation of Refunds: Monday, August 12, 2024
Credit of Shares to Demat : Monday, August 12, 2024
Listing Date : Tuesday, August 13, 2024
Refer Red Herring Prospectus for more details