• Source:JND
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Firstcry IPO Details:  Firstcry's parent company 'Brainbiz Solutions Ltd' will float its initial public offering (IPO) on August 6. The three-day issue is scheduled to close on August 8th. As per the Red Herring Prospectus (RHP), anchor investors will have a day for bidding on August 5. The initial public offering is scheduled to close on July 8.

The proposed public offering of Pune-based Brainbiz Solutions has 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 to existing shareholders.

The price band of the public issue will be announced on Thursday. Under the OFS, SoftBank's Cayman Islands-registered entity, SVF Frog, will sell 20.3 million equity shares in Brainbiz Solutions Limited and automaker Mahindra & Mahindra (M&M) will offload 2.806 million shares in the company.

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SoftBank currently holds a 25.55 percent stake in BrainBiz Solutions and a 10.98 percent stake in M&M's multi-brand retailing platform. In addition to SoftBank and M&M, OFS's other sale shares are PI Opportunities Fund, TPG, NewQuest Asia Investments, Apricot Investments, and Schroders Capital.

Firstcry, which was launched in 2010, is India's largest multi-channel, multi-brand retail platform for mother, baby, and children's products. It was established 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 also expanded internationally into select markets, establishing a presence in the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) in 2019 and 2022, respectively.

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.

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(With PTI's Inputs)