FirstCry IPO: Experts look forward to a double-digit premium listing

Ahead of the listing, Brainbees Solutions raised Rs 1,885.8 crore from anchor investors on August 5.

Brainbees Solutions Ltd, popularly known for its online platform FirstCry, is set to make its debut on the BSE and NSE today, August 13. The IPO, which opened for subscription from August 6 to August 8, is expected to list with double-digit premium over the issue price of Rs 465 per share.  Experts note that the IPO is richly valued despite its strong investor interest.

The Brainbees Solutions IPO is an offering with a total issue size of Rs 4,193.73 crore. It includes a fresh issue of 3.58 crore shares worth Rs 1,666 crore and an offer for sale of 5.4 crore shares amounting to Rs 2,527.7 crore. The price band for the IPO was set between Rs 440 and Rs 465 per share.

The IPO was subscribed 12.2 times by the close of bidding. Retail investors subscribed 2.3 times, while Qualified Institutional Buyers (QIBs) showed even greater enthusiasm with a 19.3 times subscription. The Non-Institutional Investors (NIIs) category was subscribed 4.7 times.

The proceeds from the IPO will be utilised for various purposes including the establishment of new modern stores under the "BabyHug" and "FirstCry" brands, expansion into international markets, investment in technology and data science, and other corporate growth initiatives.

Ahead of the listing, Brainbees Solutions raised Rs 1,885.8 crore from anchor investors on August 5. The company, founded in 2010, provides a range of products for mothers, babies, and kids through its FirstCry platform, which features over 1.5 million SKUs from more than 7,500 brands.

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