first cry IPO list: Brainbees Solutions, the parent company of popular baby products brand Firstcry, made an impressive debut in the stock market on Tuesday, August 13. The company’s shares opened at Rs 625 on the BSE, marking a rise of 34.41 per cent since its initial public offering (IPO) price of Rs 465. On the National Stock Exchange, Brainbees Solutions shares rose 40 per cent and opened at Rs 651.
Shares continued to rise, climbing as much as 52 percent since their IPO Brainbees Solutions share price hit a high of Rs 707.70 on the National Stock Exchange. This strong performance reflects the strong demand for Brainbees Solutions shares during the three-day IPO, which ended on August 8. The IPO was oversubscribed by 12.22 times, according to stock exchange data.
Demand for shares was particularly high among large institutional investors such as banks, investment funds and foreign institutional investors, with the portion of shares reserved for qualified institutional buyers being oversubscribed by 19.30 times. High net worth individuals purchased their allotted shares 4.68 times, while the retail portion was subscribed 2.31 times.
He IPOAnchor’s share issue on August 5, 2024 also saw a significant response, with 44.96 percent of the total IPO size being taken up by Anchor investors. Of the 90,194,432 shares offered, Anchor investors acquired 40,555,428 shares, representing 44.96 percent of the total IPO size.
Brainbees Solutions offered its shares in a price band of Rs 440 to Rs 465 per share. Retail investors could bid for a minimum of one lot comprising 32 shares, with a maximum limit of 13 lots. At the upper end of the price band, one lot was valued at Rs 14,880.
Founded in 2010, Brainbees Solutions operates Firstcry, an online platform offering a wide range of products for mothers, babies and children up to 12 years of age. The company’s product line includes apparel, footwear, baby items, nursery items, diapers, toys and personal care products. Firstcry offers products from third-party brands from India, international brands and its own private labels, and has over 1.5 million stock-keeping units (SKUs) from over 7,500 brands.
Brainbees Solutions has established itself as a one-stop resource for parents, offering retail products, content, community engagement, and educational resources. The company has demonstrated strong financial performance, with revenue up 14.72 percent and profit after tax (PAT) up 33.85 percent between the financial years ended March 31, 2023, and March 31, 2024.
He IPO The offer for sale (OFS) included an offer for sale (OFS) by existing investors. Among the key participants, SVF Frog, a Cayman Islands-based entity of SoftBank, offloaded 2.03 million shares, while Mahindra & Mahindra sold 28.06 million shares. Currently, SoftBank holds a 25.55 per cent stake in Brainbees Solutions, and Mahindra & Mahindra holds 10.98 per cent. Other entities participating in the OFS include PI Opportunities Fund, TPG, NewQuest Asia Investments, Apricot Investments and Schroders Capital.
At 10:08 am, Firstcry shares were trading at Rs 670 on the National Stock Exchange, up 44 per cent from the IPO price.
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