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
| IPO Date | August 6, 2024 to August 8, 2024 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price | ₹440 to ₹465 per share |
| Lot Size | 32 Shares |
| Total Issue Size | 90,187,690 shares (aggregating up to ₹4,193.73 Cr) |
| Fresh Issue | 35,827,957 shares (aggregating up to ₹1,666.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre-issue | 483,349,470 |
| Shareholding post-issue | 519,177,427 |
| Employee Discount | Rs 44 per share |
Brainbees Solutions (Firstcry) IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 32 | ₹14,880 |
| Retail (Max) | 13 | 416 | ₹193,440 |
| S-HNI (Min) | 14 | 448 | ₹208,320 |
| S-HNI (Max) | 67 | 2,144 | ₹996,960 |
| B-HNI (Min) | 68 | 2,176 | ₹1,011,840 |
Brainbees Solutions (Firstcry) IPO Objectives
The Company proposes to utilize the net proceeds to finance the following purposes:
- Expenses of the Company for: (I) establishment of new modern stores under the “BabyHug” brand; and (II) establishment of a warehouse in India;
- Expenditure on lease payments for existing identified modern stores owned and operated by the Company in India;
- 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;
- Investment in Subsidiary FirstCry Trading for overseas expansion by: (I) establishment of new modern stores; and (II) establishment of warehouses in KSA;
- Investment in Subsidiary Globalbees Brands for the acquisition of an additional stake in its Subsidiaries;
- Sales and marketing initiatives;
- Technology and data science costs, including cloud and server hosting costs; and
- 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.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 7,510.38 | 7,119.83 | 6,197.16 |
| Revenue | 6,575.08 | 5,731.28 | 2,516.92 |
| Profit After Tax | -321.51 | -486.06 | -78.69 |
| Net Worth | 3,170.74 | 3,456.26 | 3,527.94 |
| Reserves and Surplus | 3,081.74 | 3,367.21 | 3,439.17 |
| Total Borrowing | 462.72 | 176.47 | 90.16 |
Brainbees Solutions (Firstcry) IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 75.00% of the Net offer |
| Retail Shares Offered | Not more than 10.00% of the Offer |
| NII (HNI) Shares Offered | Not more than 15.00% of the Offer |
Brainbees Solutions (Firstcry) IPO Timeline
Brainbees Solutions (Firstcry) IPO opens on August 6, 2024, and closes on August 8, 2024.
| IPO Open Date | Tuesday, August 6, 2024 |
| IPO Close Date | Thursday, August 8, 2024 |
| Basis of Allotment | Friday, August 9, 2024 |
| Initiation of Refunds | Monday, August 12, 2024 |
| A credit of Shares to Demat | Monday, August 12, 2024 |
| Listing Date | Tuesday, August 13, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM 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.
