The IPO for e-commerce giant FirstCry is set to open on August 6, 2024, and will close on August 8, 2024.
The price band for the shares is set between ₹440 and ₹465.
Each lot consists of 32 shares.
Anchor investors will have the opportunity to bid on August 5, and the shares are expected to be listed on BSE and NSE on August 13, 2024.
New Shares: 3.58 crore shares, amounting to ₹1,666 crore & Offer for Sale (OFS): 5.44 crore shares, worth ₹2,527.73 crore
Total Fundraising Target: ₹4,193.73 crore
FirstCry is supported by prominent investors, including Premji Invest, Mahindra & Mahindra, and SoftBank.
The company’s valuation was $2.8 billion in its last private funding round. Key investors such as SoftBank (25.55% stake), BrainBees Solutions (10.98%), and Mahindra & Mahindra will be selling their stakes through the OFS.
Qualified Institutional Buyers (QIBs): 75% & Retail Investors: 10%
Non-Institutional Investors: 15%
Book Running Lead Managers: Kotak Mahindra Capital Company, Morgan Stanley India Company Pvt Ltd, BofA Securities India Limited, JM Financial Limited, and Avendus Capital Pvt Ltd
Registrar: Link Intime India Private Ltd
FirstCry’s parent company, BrainBees Solutions, initially filed for an IPO in December 2023 but withdrew it due to requests for additional details from SEBI (Securities and Exchange Board of India).
The company later filed an updated draft red herring prospectus.
Revenue (9 months ended December 31, 2023): ₹4,814 crore & Loss (same period): ₹278 crore
Revenue FY24: ₹6,480.86 crore (up from ₹5,632.54 crore in FY23)
Loss FY24: ₹321.51 crore (compared to ₹486.01 crore in FY23)
FirstCry continues to be a major player in the baby and mother care product market, with a significant portion of its sales coming through online channels.
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