Anchor investor bidding date: Monday, August 5, 2024
- Bid /offer opening date: Tuesday, August 6, 2024
- Bid/ offer closing date: Thursday, August 8, 2024
- Bids can be made for a minimum of 32 Equity Shares and in multiples of 32 Equity Shares thereafter
NE BUSINESS BUREAU
AHMEDABAD, AUGUST 3
Brainbees Solutions Limited on Friday announced its initial public offering will open on Tuesday, August 6, 2024. The bid/ offer closing date will be Thursday, August 8, 2024. Anchor Investor bidding date is one working day prior to bid/offer opening date, that is, Monday, August 5, 2024.
The price band of the offer has been fixed in the range of ₹440 to ₹465 per Equity Share. Bids can be made for a minimum of 32 Equity Shares and in multiples of 32 Equity Shares thereafter.
The IPO of Firstcry includes a fresh share of ₹ 1,666 crore and an offer-for-sale (OFS) 5,35,59,733 equity shares by its existing shareholders, amounting to ₹ 2,490.52 crore. At the upper end of the price band, the company is looking to raise a total of ₹ 4,156.52 crore via primary stake sale.
The Offer includes a reservation of certain equity shares of face value of ₹2 each, aggregating up to ₹3 crore for subscription by eligible employees. The offer less the Employee Reservation Portion is hereinafter referred to as the “Net Offer”.
The net proceeds from the issue shall be utilized for establishment of new modern stores under the ‘BabyHug’ brand and a warehouse in India; expenditure on lease payments for existing identified modern stores; investments in its subsidiary digital age; investment in subsidiary Globalbees Brands for the acquisition; sales and marketing initiatives; and general corporate purposes.
Founded in 2010, Brainbees Solutions offers products for mothers, babies, and Kids via its online platform ‘FirstCry’. It aims to create a one-stop store for parents’ retail, content, community engagement, and education needs. The company offers products from Indian third-party brands, global brands, and its own brands.
Brainbees Solutions offers everything needed for an infant up to the age of 12, including apparel, footwear, baby gear, nursery, diapers, toys, and personal care, amongst others. The company has an extensive offering for mothers, babies, and Kids with more than 1.5 million SKUs from more than 7,500 brands on its multi-channel platform across categories.
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on BSE Limited and National Stock Exchange of India Limited. The company has received in-principle approvals from BSE and NSE for the listing of the Equity Shares pursuant to their letters, each dated May 16, 2024.
For the year ended on March 31, 2024, Brainbees Solutions reported a net loss of 321.51 crore with a revenue of Rs 6,575.08 crore. Firstcry parent’s net loss stood at Rs 486.06 crore with a revenue of Rs 5,731.28 crore for the financial year 2022-23.
Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, JM Financial Limited and Avendus Capital Private Limited are the book running lead managers to the offer.Link Intime India is the registrar for the issue.
