FirstCry parent Brainbees Solutions to launch IPO on August 6

FistCry IPO: Brainbees Solutions Ltd, the parent company of online e-commerce platform FirstCry, is set to launch its initial public offering (IPO) on August 6. The three-day issue will close on August 8, with the anchor portion bidding opening for one day on August 5, as outlined in the red herring prospectus (RHP).

The IPO will comprise a fresh issue of equity shares worth Rs 1,666 crore and an offer for sale (OFS) of up to 5.44 crore shares by existing shareholders. The price band for the public issue will be announced on Thursday.

In the OFS, SVF Frog, a Cayman Islands-based entity of SoftBank, will sell 2.03 crore shares, while Mahindra & Mahindra (M&M) will offload 28.06 lakh shares. Currently, SoftBank holds a 25.55 per cent stake in Brainbees Solutions, and M&M owns a 10.98 per cent stake.

Other entities participating in the OFS include PI Opportunities Fund, TPG, NewQuest Asia Investments, Apricot Investments, and Schroders Capital.

Founded in 2010, FirstCry is India’s largest multi-channel retail platform for mothers', babies', and kids' products. It aims to be a comprehensive destination for parenting needs, offering commerce, content, community engagement, and education. The company expanded internationally with a presence in the UAE and Saudi Arabia in 2019 and 2022, respectively.

Kotak Mahindra Capital Company Ltd, Morgan Stanley India Company Private Ltd, BofA Securities India Ltd, JM Financial Ltd, and Avendus Capital Private Ltd are the book-running lead managers for the IPO.

(With PTI inputs)