Today, another company has got a blockbuster listing in the stock market.
These shares of FirstCry’s parent company Brainbees Solutions Limited have been listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
The special thing is that this stock has been listed at a premium price as compared to the issue price.
This listing has been done at a premium of 40%. The issue price for this IPO was fixed at ₹ 465 per share. This share was listed on BSE at a price of ₹ 625 per share.
Whereas, it has been listed on NSE at ₹ 651 per share. In this way, on the first day itself, every share has a profit of up to Rs 186 per share.
This IPO was open for subscription till August 8. The company has launched fresh equity of ₹ 1,666 crore through this issue and 5.44 crore shares through OFS.
Before the issue’s opening, the company had already raised the sum of Rs1,886 crore from investors who were anchors.
Numerous major companies, such as the Singapore Government, Government Pension Fund Global, Nomura Funds, Goldman Sachs, Abu Dhabi Investment Authority, and Societe Generale, participated in the first round of anchor investors.
About IPO
The price band of the IPO of the online e-commerce platform was fixed at ₹440 – ₹465 per share, where investors could bid for 32 shares in a lot and then in multiples of it.
The company had planned to raise ₹4,194 crore through this IPO.
The majority of the issue is reserved for qualified institutional buyers while 35% is reserved for non-institutional investors, and the remaining 10% is for retail investors.
The company plans to utilize the money raised from the IPO to create new modern stores under the brand name ‘BabyHug.
The company wants to invest in subsidiary companies expanding overseas and to fund marketing and sales initiatives.
Apart from this, some parts will be used for general corporate work.
Company Finance
Brainbees Solutions Limited, operating under the name FirstCry is the biggest fashion-first omni-channel retail platform for products for children and infants.
The company’s product is available in India, Saudi Arabia UAE, and UAE.
The company provides an extensive range of products, such as toys, diapers, clothes baby equipment, and diapers to meet the various requirements of infants, toddlers, and toddlers.
In FY 24, the company recorded a revenue of Rs 6,481 crore, which has seen a growth of 15%.
The loss over the same time frame was cut by 34%, to 321 crore.
In the past three years, the company’s revenues from operations have increased from Rs 2,401 crore in FY 2022 and an amount of Rs 6,481 crore in FY 2024.
Disclaimer: This site is only for informational purposes. We do not provide any stoke recommendations or buying advice. We are here to give you the latest news and updates about the share market. We are not responsible for any loss.
