The IPO – Initial Public Offering of e-commerce based platform FirstCry’s parent Brainbees Solutions got 12.22 times subscription on the end day of offering on Thursday. The 4,194 crore beginning offer deal got offers for 60,64,29,472 offers against 4,96,39,004 offers on offer, according to NSE information. 

The share for non-institutional investors received 4.68 times subscription, while the portion for qualified institutional buyers (QIBs) received 19.30 times subscription. The section for Retail Individual Financial backers (RIIs) earned 2.31 times subscription.

On Monday, Brainbees Solutions announced that it had received $1,886 million from anchor investors. The IPO’s price range is between 440 and 465 per share. The Pune-based Brainbees Solutions initial public offering consists of a fresh issue of equity shares with a total value of 1,666 crore and an OFS (offer for sale) component that includes up to 5.44 crore shares that are owned by existing shareholders and are worth 2,528 crore. The total value of the issue is now 4,194 crore rupees. 

SVF Frog, a Softbank subsidiary registered in the Cayman Islands, sold 2.03 million equity shares of Brainbees Solutions under the OFS, and automaker Mahindra & Mahindra (M&M) sold 28.06 million shares of the company. Aside from Softbank and M&M, others selling partakes in the OFS are PI Potential open doors Asset, TPG, NewQuest Asia Speculations, Apricot Ventures and Schroders Capital. Additionally, Ratan Tata, a seasoned industrialist, is one of the individuals selling shareholders. 

The company will invest in subsidiaries, open BabyHug stores, expand internationally, and carry out sales and marketing initiatives with the net proceeds from the new issue. Additionally, a portion will be utilized for company-wide purposes. Business houses have fixed the organization’s market capitalisation at 24, 142 crore post-issue. Established in 2010, FirstCry is India’s biggest multi-channel, multi-brand retailing stage for moms’, children’s and children’s based products. Based on customer brand affinity, loyalty, and trust, it was established to create a one-stop shop for parenting needs in commerce, content, community engagement, and education. Further, FirstCry secured itself in the UAE and Saudi Arabia in 2019 and 2022, separately.