FirstCry IPO: Issue subscribed 12.22 times on Day 3, QIB portion booked 19.3x

FirstCry IPO: Issue subscribed 46% on Day 3 so far, employee portion booked 4.73x

Brainbees Solutions, which operates omnichannel businesses of kidswear under the brand name FirstCry, opened its Rs 4,194-crore IPO for subscription on August 6.

The issue was subscribed 12.22 times on the third day. The qualified institutional buyers were at the forefront, bidding for 19.3 times the reserved portion.

The employees portion followed next, subscribing their allocated portion by 6.57 times while non-institutional investors purchased 4.68 times the portion set aside for them.

Meanwhile, retail investors bought 2.31 times the reserved portion on August 8.

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Brainbees Solutions mobilised Rs 1,885.8 crore through anchor book on August 5. 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 4.06 crore 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 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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