Brainbees Solutions Limited IPO

Brainbees Solutions Limited (Firstcry)   IPO  opens on August 6, 2024, and closes on August 8, 2024. The allotment for the Brainbees Solutions (Firstcry)  IPO   is anticipated to be completed on Friday, August 9, 2024. The IPO will be listed on the BSE and NSE, with a tentative listing date set for Tuesday, August 13,2024.

The price band for the Brainbees Solutions (Firstcry)   IPO is set at Rs 440 to Rs 465 per share. The IPO is a book-built issue of Rs 4,193.73 crores, entirely a fresh issue of 3.58 crores shares.

Brainbees Solutions (Firstcry) IPO Details

Brainbees Solutions (Firstcry) IPO Lot Size

Brainbees Solutions (Firstcry) IPO Objectives

The Company proposes to utilize the net proceeds to finance the following purposes:

1. Expenses of the Company for: (I) establishment of new modern stores under the “BabyHug” brand; and (II) establishment of a warehouse in India;
2. Expenditure on lease payments for existing identified modern stores owned and operated by the Company in India;
3. Investments in its Subsidiary Digital Age for (I) setting up new modern stores under the FirstCry brand and other house brands of the Company; and (II) lease payments for the existing identified modern stores owned and controlled by Digital Age in India;
4. Investment in Subsidiary FirstCry Trading for overseas expansion by: (I) establishment of new modern stores; and (II) establishment of warehouses in KSA;
5. Investment in Subsidiary Globalbees Brands for the acquisition of an additional stake in its Subsidiaries;
6. Sales and marketing initiatives;
7. Technology and data science costs, including cloud and server hosting costs; and
8. Financing of inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.

About Brainbees Solutions Limited

Founded in 2010, Brainbees Solutions Limited, operating under the brand ‘FirstCry,’ offers a comprehensive range of products for mothers, babies, and kids. The company aims to be a one-stop shop for parents, providing items such as apparel, footwear, baby gear, nursery essentials, toys, and personal care products. With over 1.5 million SKUs from more than 7,500 brands, including its own house brands like BabyHug, Pine Kids, Cute Walk by BabyHug, and Babyoye, FirstCry caters to children up to 12 years old.

As of December 31, 2023, Brainbees Solutions has established itself as the largest specialized online retail platform for maternal, baby, and kids’ products in both India and the UAE, based on gross merchandise value (GMV). The company has a network of over 900 contract manufacturers for its house brands and employs 3,411 full-time and 2,475 contract employees.

Brainbees Solutions Limited Financial Information

Brainbees Solutions Limited’s revenue increased by 14.72% and profit after tax (PAT) rose by 33.85% between the financial year ending with March 31, 2024 and March 31, 2023.

Brainbees Solutions (Firstcry) IPO Reservation

Brainbees Solutions (Firstcry) IPO Timeline

Brainbees Solutions (Firstcry) IPO opens on August 6, 2024, and closes on August 8, 2024.

Conclusion

The Brainbees Solutions Limited (Firstcry) IPO, opening on August 6, 2024, and closing on August 8, 2024, offers 3.58 crore shares in a book-built issue priced between Rs 440 and Rs 465 per share, totaling Rs 4,193.73 crores. The IPO aims to fund various strategic initiatives, including new store establishments, warehouse expansions, and investments in subsidiaries. The company, a leading online platform for maternal and kids’ products, will list on the BSE and NSE on August 13, 2024.