FirstCry (Brainbees Solutions) IPO will stop taking bids from August 08 onwards. On the very first day of the issue, it was subscribed 0.11 times. As of August 07, the issue was subscribed only 0.30 times to the offered shares. The company wants to raise a total of Rs 4,193.73 crore through a combination of fresh shares as well as an offer for sale.
GMP
The company’s shares were attracting a premium of a mere 2.8% in the grey market. It is an unofficial place where shares change hands ahead of listing. Investors keep an eye on GMP to track listing gains.
Price Band
The company kept the price band between Rs 440 to Rs 465 per equity share. The allotment of shares is likely to be finalised by August 09. The listing is expected to take place on August 13 on NSE and BSE.
Minimum Investment
The retail investors need to apply for a minimum of one lot that contains 32 shares, which sums up to Rs 14,880. Meanwhile, there are different lost sizes for small NIIs and big NIIs. A small NII needs a minimum investment of Rs 2,08,320 and a big NII Rs 10,11,840.
Employee Reservation
The company has kept aside up to 71,258 shares for its employees that will be offered to them at a discount of Rs 44 to the issue price.
About Brainbees Solutions
Brainbees Solutions is the parent firm that handles the app and stores Firstcry. It wants to create a one-stop store for parents’ retail, content, community engagement, and education needs. The company 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 offers products from Indian third-party brands, global brands, and its own brands.
BRLMs and Registrar
Kotak Mahindra Capital Company, Morgan Stanley India Company, BofA Securities India, JM Financial, and Avendus Capital are the book-running lead managers for the IPO. Link Intime India will be managing the work of the registrar.