Brainbees Solutions, has announced the price band for its upcoming initial public offering (IPO), where the parent company of Firstcry will be selling its shares in the range of Rs 440-465 apiece. Investors can apply for a minimum of 32 equity shares and its multiples thereafter. The issue will be open for bidding between August 06 and August 08.
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.
The IPO of Firstcry includes a fresh share of Rs 1,666 crore and an offer-for-sale (OFS) 5,35,59,733 equity shares by its existing shareholders, amounting to Rs 2,490.52 crore. At the upper end of the price band, the company is looking to raise a total of Rs 4,156.52 crore via primary stake sale. Anchor book for the issue opens on Monday, August 05.
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.
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.
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.
Brainbees Solutions has reserved shares worth Rs 3 crore for its eligible employees, who will get a discount of 44 per share. 75 per cent of the net offer has been reserved for the qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will get 15 per cent of the net offer. Remaining 10 per cent of the net offer shall be allocated for retail investors.
Kotak Mahindra Capital Company, Morgan Stanley India Company, Bofa Securities India, JM Financial and Avendus Capital are the book running lead managers of the Brainbees Solutions IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed at the bourses on both BSE and NSE with August 13 as the tentative date of listing.