Mumbai :
FirstCry, the renowned e-commerce platform specializing in baby and mother care products, is gearing up to launch its Initial Public Offering (IPO) next week.
The company’s parent, Brainbees Solutions Limited, aims to list on the stock exchanges on August 13.
Here’s a detailed look at what to expect.
Valuation and Pricing:
Valuation: The IPO is expected to launch at a valuation of approximately ₹24,300 crore ($2.9 billion).
Price Band: The upper price band is likely to be around ₹465 per share.
IPO Structure:
New Shares: The IPO will include the issuance of new shares worth $220 million.
Offer for Sale (OFS): There will be an offer for sale of 5.4 crore shares.
Timeline and Process
Listing Date: Brainbees Solutions Limited is set to list on the stock exchanges on August 13.
Anchor Book: The company may launch the anchor book on August 5 ahead of the IPO.
Public Offering: Opening Date: August 6
Closing Date: August 8
Financial Performance
For the nine months ended December 31, 2023, FirstCry recorded a revenue of ₹4,814 crore.
During the same period, the company reported a loss of ₹278 crore.
Shareholder and Investment Information
FirstCry is backed by prominent investors including Premji Invest, Mahindra & Mahindra, and SoftBank.
SoftBank: Holds a 25.55% stake in FirstCry.
BrainBees Solutions and Mahindra: Hold a combined 10.98% stake.
Other Investors: SVF Frog (Cayman) Limited, TPG, PI Opportunities, and NextGen are also among those selling their stake through the OFS.
Background and Previous Filings
FirstCry’s parent company, BrainBees Solutions, initially filed IPO documents in December 2023. However, they withdrew the filing after SEBI (Securities and Exchange Board of India) requested more detailed disclosures and financials.
The company has since filed an updated IPO draft.
Sales Channels
Distribution:
Approximately 77% of FirstCry’s sales come from online channels. The remaining 23% of sales are generated through offline stores.
FirstCry’s IPO marks a significant milestone for the company, aiming to leverage its strong market presence and expand further in the booming e-commerce sector.
Investors are keenly watching as the company prepares for its public debut, which promises to be one of the most notable listings of the year.
