On BSE, the stock listed at Rs 625 apiece, up 34.4%.
Ahead of the listing, the company’s shares traded with a GMP of Rs 84 in the unlisted market.
The IPO of FirstCry sailed through on the last day of the bidding process with a subscription of over 12 times at close.
Ahead of the issue opening, the company raised Rs 1886 crore from 71 anchor investors ahead of the issue opening. Marquee investors who participated in the anchor round include SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Government of Singapore, ADIA, Goldman Sachs among others.
The SoftBank and Premji Invest-backed firm said it will utilize net proceeds from the IPO towards setting up new modern stores under the brand ‘BabyHug’, investment in subsidiary Digital Age, overseas expansion, and sales and marketing initiatives.
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Brainbees Solutions is the largest multi-channel retailing platform for mothers, babies, and kids products, with a growing presence in select international markets. The company launched the FirstCry platform, a one stop destination for parenting needs encompassing commerce, content, community engagement, and education.It offers a wide range of products including apparel, footwear, baby gear, nursery items, diapers, toys, and personal care from Indian third-party brands, global brands, and its own brands.
They provide over 1.6 million SKUs from 7,500+ leading Indian and global brands. The company seeks to develop multi-year relationships with mothers, starting from the baby’s conception and continuing until the child reaches about 12 years of age.
In FY24, the company reported a 15% growth in operating revenue at Rs 6,481 crore, while it reduced losses by 34% to Rs 321 crore during the same period.
Over the last three financial years, the company’s revenue from operations has grown to 6,481 crore for FY24 from Rs 2401 crore FY 2022.
Kotak Investment Banking, Morgan Stanley, BofA Securities, JM Financial, and Avendus are the book running lead managers to the issue, while Link Intime India is the registrar.
