FirstCry Parent Company IPO Opens on August 6: Bidding Closes August 8, Aiming to Raise ₹1,821.44 Crore
BrainBees Solutions Limited IPO Opens on August 6
The initial public offering (IPO) of BrainBees Solutions Limited, the parent company of FirstCry, will open on August 6. Investors can place bids for the IPO until August 8. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on August 13.
Expected Funds and Share Issuance
The company has not yet disclosed the total amount it aims to raise through this issue. According to reports, BrainBees Solutions may raise approximately ₹1,821.44 crores through the IPO. This includes the issuance of new shares worth ₹1,816 crores. Additionally, the company’s existing investors will sell 5.44 crore shares through an Offer for Sale (OFS).
Investment Limits
The company has not yet announced the issue price of the IPO. Once BrainBees Solutions determines the issue price, the minimum and maximum investment amounts will be known.
Reserved Portions of the Issue
10% of the issue is reserved for retail investors. 75% of the issue is reserved for Qualified Institutional Buyers (QIBs), while the remaining 15% is reserved for Non-Institutional Investors (NIIs).
Major Stakeholders
SoftBank holds a 25.5% stake in FirstCry, making it the largest shareholder. Mahindra & Mahindra (M&M) holds a 10.98% stake. Reports indicate that SoftBank’s unit, SVF, will sell 2.03 crore shares of the company through the IPO. M&M will sell 0.58% of its stake, or 28 lakh shares, in BrainBees Solutions through this issue. Premji Invest will sell 86 lakh shares during the OFS.
FirstCry’s Network
FirstCry announced seven months ago that it would use the funds raised from the IPO to expand its store network in India and Saudi Arabia and to clear the lease payments for its existing Indian stores. The company currently has a network of 936 stores in India but has not disclosed the number of stores it has in Saudi Arabia.
What is an IPO?
When a company issues its shares to the public for the first time, it is called an Initial Public Offering (IPO). Companies need funds to expand their business. Instead of taking loans from the market, they raise funds by selling some of their shares to the public or by issuing new shares. This process is known as bringing an IPO.
