Brainbees Solutions IPO, the company that owns FirstCry, opened its issue on August 06 for bidding. The company wants to raise Rs 4,193.73 crore through a combination of fresh shares as well as an offer for sale.
Price Band
The company kept the price band in a range of 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 of 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.
Expert’s Take
“Brainbees Solutions operates one of the largest multichannel retail platforms under the brand ‘FirstCry’ with a niche focus on Mothers, Babies and under 12 kids’ products. Firstcry has forayed into international markets and runs an online store in UAE (since 2019) and Saudi Arabia (since 2022). Against the backdrop of changing retail and e-commerce dynamics, the mother and childcare product market is expected to grow at a CAGR of 13-15% during FY24-29. Firstcry’s shares are available at EV/sales of 3.8x FY24 which is lower as against NYKA which is trading at 8.4x. Given FirstCry’s leadership position in the niche segment of baby products, we recommend “Subscribe” (rating) to the issue for long-term gains,” said Nirmal Bang in an IPO note.
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.