• Source:PTI
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Firstcry IPO Price Range:  Brainbees Solutions Ltd, the parent company of the online e-commerce platform FirstCry, has set the price of its Rs 4,194-crore initial public offering (IPO) at Rs 440-465 per share on Thursday. The company said that the initial public offering (IPO) would open on August 6 and close on August 8, and the anchor book would open on August 5 for one day.

The Pune-based Brainbees Solutions' public offering comprises a fresh issue of equity shares worth Rs 1,666 crore and an OFS (offer for sale) component of up to 5.44 crore shares worth Rs 2,528 crore from existing shareholders. As a result, the total issue size is Rs 4,194 crore.

Under the OFS, SoftBank's Cayman Islands-registered entity, SVF Frog, will sell 20.3 million equity shares in Brainbees Solutions Limited, while automaker Mahindra & Mahindra (M&M) will sell 2.806 million shares in the company. SoftBank currently holds a 25.55 percent stake in Brainbees Solutions and a 10.98 percent stake in M&M's multi-brand retailing platform.

The brokerage firm has set the company's post-issue market capitalization at Rs 24,142 crore.

When was Firstcry launched?

Launched in 2010, Firstcry is India's largest multi-channel, multi-brand retail platform for mother, baby, and children's products. It was founded to create a one-stop destination for parenting needs across commerce, content, community engagement, and education based on brand affinity, loyalty, and consumer trust.

Firstcry has also expanded internationally to select markets, establishing a presence in the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) in 2019 and 2022, respectively.

IPO Share Reservation

The company said that seventy-five percent of the issue size is reserved for eligible institutional buyers, 35 percent for non-institutional investors, and the remaining 10 percent for retail investors. Investors may bid for a minimum of 32 equity shares and in multiples thereof.

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 on the issue.

(With PTI's Input)