FirstCry operator raises Rs 1,886 crore via anchor book, IPO opens on August 6

Brainbees Solutions IPO

Brainbees Solutions, which operates the online platform FirstCry, has mobilised Rs 1,885.8 crore through anchor book on August 5. The Rs 4,194-crore initial public offering 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 4,05,55,428 equity shares to anchor investors at Rs 465 per equity share, the upper price band.

Other key investors being a part of the anchor book included Fidelity Funds, SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mutual Fund, SBI Life Insurance Company, Bajaj Allianz General Insurance, 360 One Flexicap Fund, Aditya Birla Sun Life Trustee, TT Emerging Markets Unconstrained Fund, Amundi Funds, Invesco India, Helios Flexi Cap Fund, DSP India Fund, and Max Life Insurance Company.

"8 mutual funds have applied through a total of 23 schemes," Brainbees said in its filing to exchanges.

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.

SVF Frog (Cayman), Mahindra & Mahindra, PI Opportunities Fund- 1, TPG Growth V SF Markets, NewQuest Asia Investments III, Apricot Investments, Satyadharma Investments and Trading Company, Schroders Capital Private Equity Asia Mauritius II, Sage Investment Trust, and Pratithi Investment Trust are the selling shareholders in the OFS.

The price band for the public issue, which closes on August 8, has been fixed at Rs 440-465 per share.