FirstCry files RHP with SEBI, to announce IPO price band on August 1

Supam Maheshwari, Firstcry MD and CEO

BrainBees Solutions Ltd, the parent company of FirstCry, has filed its red herring prospectus (RHP) with the Securities and Exchange Board of India (SEBI).

Further, the e-commerce giant will launch the anchor book for its initial public offering (IPO) on August 5 and the issue will open for public subscription between August 6 and August 8. Price band for the IPO will be announced on August 1.

Moneycontrol had first reported about the anchor book launch and dates for public subscription. Sources had earlier said the Pune-based company will likely list on August 13.

The company reported a revenue of Rs 6,481 crore in FY24, up 15 percent from Rs 5,633 crore in FY23, as per filings. Even as its top line grew -- the company managed to curb losses. The mother and baby care retailer saw its losses reduce to Rs 321 crore in FY24, down 34 percent from Rs 486 crore in FY23.

Its ecommerce roll-up subsidiary, Globalbees reported Rs 1,209 crore in revenue and accounted for 18 percent of the parent company's revenue.

About 70 percent of the company's revenues come from India while the remaining comes from other geographies.

With those set of financials, the IPO will value FirstCry at a touch below Rs 25,000 crore (around $3 billion), Moneycontrol had reported earlier.

While it filed to raise about $215 million via fresh shares, it plans to raise $300 million more via sale of existing shares. A significant part of the capital that is being raised will go towards expanding the company's business in Saudi Arabia and others, the firm had said earlier.