Subscribe for Brainbees solution Ltd; KR Choksey

KR Choksey, has come out with its report on Brainbees solution Ltd. The research firm has recommended to “ Subscribe” the ipo in its research report as on August 06 2024.

Broker Research

August 07, 2024 / 12:44 IST

IPO

KR Choksey, IPO report on Brainbees solution Ltd

Brainbees Solutions Limited (FirstCry) is India’s largest multi-channel retailing platform for Mothers’, Babies’ and Kids’ Products, in terms of GMV, for the FY 2024. FirstCry enjoys a market share of 16– 17% in the organized India Childcare products market as of FY24 and 2.5% share in Indian childcare products.. FirstCry is the pioneer of multi-channel retailing for Mothers’, Babies’ and Kids’ Products in India. With over 2.12 Mn sq. ft retail space and 1,063 Modern Stores in 533 cities in 28 states and five union territories, FirstCry had the largest retail space and Retail Footprint amongst Specialty Mothers, Babies, and Kids’ Retailers in India, as of March 31, 2024.

Valuation and Outlook

Given that the price to sales multiple at the upper price band of 3.8x is at a much higher discount to more directly related peers (Online + Offline presence) like FSN E-commerce & Honasa, we assign SUBSCRIBE rating for this IPO.

For all IPO report, click here