FirstCry IPO: Issue subscribed 11% on Day 1, employees buy 1.79 times

The IPO is a combination of fresh issuance of shares worth Rs 1,666 crore, and an offer-for-sale (OFS) of 5.4 crore equity shares.

Brainbees Solutions, which operates omnichannel businesses of kidswear under the brand name FirstCry, opened its Rs 4,194 crore IPO for subscription.

The issue was subscribed to 11 percent. The employees were at the forefront, buying 1.79 times the reserved portion. The retail portion followed next after it was bought 46 percent while non-institutional investors purchased 8 percent of the portion set aside for them.

Meanwhile, QIBs or qualified institutional buyers bought 2,752 shares of the reserved portion of 2.7 crore shares.

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Brainbees Solutions mobilised Rs 1,885.8 crore through the anchor book on August 5 and will open on August 6.

Marquee institutional investors including Government of Singapore, Monetary Authority of Singapore, Government Pension Fund Global, Abu Dhabi Investment Authority, Nomura Funds, Goldman Sachs, Carmignac Portfolio, Nordea 1, Florida Retirement System, Integrated Core Strategies (Asia), Societe Generale, Steadview Capital Mauritius, Wellington Trust Company, Citigroup Global, and Verition Multi-Strategy Master Fund invested Rs 706.95 crore in the anchor book.

The company informed exchanges that it has finalised allocation of 4.05 lakh equity shares to anchor investors at Rs 465 per equity share, the upper price band.

Established in 2010, Brainbees Solutions, the multi-channel retailing platform for mothers, babies and kids products, aims to raise Rs 4,193.73 crore through an initial share sale.

The IPO is a combination of fresh issuance of shares worth Rs 1,666 crore, and an offer-for-sale (OFS) of 5.4 crore equity shares worth Rs 2,527.7 crore by the existing shareholders.

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