Brainbees Solutions IPO: Check allotment status for Firstcry parent; GMP, listing date & more

Brainbees Solutions is scheduled to finalize the basis of allotment of its shares on Friday, August 09. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate over the weekend or latest by Monday, August 12. The IPO of Firstcry's parent had received a muted response from the investors.
 

The IPO of Brainbees Solutions was open for bidding between August 6 and August 8. The company had offered its shares in the fixed price band of Rs 440-465 per share with a lot size of 32 shares. The company raised a total of Rs 4,193.73 crore from its IPO, which included a fresh share sale of up to Rs 1,666 crore and an offer-for-sale (OFS) up to 5,43,59,733 shares.
 

The issue was overall subscribed a total of 12.22 times, thanks to the push from qualified institutional bidders (QIBs), whose quota was booked 19.30 times. The quota for non-institutional investors was subscribed 4.68 times. The portions reserved for retail investors and employees saw bidding for 12.22 times and 6.57 times during the three-day bidding process.
 

Grey market premium (GMP) of Firstcry-parent Brainbees Solutions has seen a sharp fall following the lacklustre response from the investors. Last heard, the company was commanding a premium of Rs 20 per share, suggesting a listing pop of less than 5 per cent for the investors. However, it was around Rs 45 when the issue opened for bidding.
 

Brainbees Solutions, Founded in 2010, 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.
 

Brokerage firms are mostly positive on the issue suggesting investors to subscribe to it for a long term. They are a positive company's experienced management, strong market share, potential for the future, and leadership position in the market. However, rich valuations, loss making nature of business, negative cash flows and stiff competition are the key concerns.
 

Kotak Mahindra Capital, JM Financial, Morgan Stanley India, Bofa Securities India, 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 on both BSE and NSE with August 13 as the tentative date of listing.
 

Investors, who had bid for the issue of Brainbees Solutions, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Brainbees Solutions Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button
 

Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
 

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of Link Intime Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.
 

 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.