The IPO of FirstCry, an e-commerce company that makes products for children, has opened today i.e. Tuesday, August 6. Its parent company is BrainBees Solutions. This IPO will close on Thursday, August 8. FirstCry has set a target of raising Rs 4,193.73 crore through this IPO.
The price band of its shares has been kept between Rs 440 and Rs 465. There are 32 shares in one lot. Rs 14,880 will have to be invested for one lot. Retail investors will be able to bid for a maximum of 13 lots. Investors who will be allotted shares will get information about it on August 9. The listing of this IPO will be on August 13.
FirstCry’s IPO will remain open till August 8
The price band of its shares has been kept between Rs 440 and Rs 465. There are 32 shares in one lot. Rs 14,880 will have to be invested for one lot. Retail investors will be able to bid for a maximum of 13 lots. Investors who will be allotted shares will get information about it on August 9. The listing of this IPO will be on August 13. Let us tell you, the employees of the company get a discount of Rs 44 per share.
How much share is reserved for whom?
75 percent of the IPO is reserved for qualified institutional buyers. At the same time, retail investors will get a maximum of 10 percent of the issue. A maximum of 15 percent can be reserved for non-institutional investors.
The company’s position weakened in the gray market
According to the report of Investors Gain, the company’s position in the gray market has weakened. FirstCry IPO is trading at a premium of Rs 45 in the gray market today. If this trend continues till listing, then the company can debut in the stock market at Rs 510. Let us tell you, earlier on August 4, 2024, the shares of the company were trading at a premium of Rs 85 in the gray market. The highest GMP was on August 2. Then the company’s shares were trading at a premium of Rs 104.
About the company
What does FirstCry do?
This company sells clothes and other things for small children and mothers online and offline. The company has many outlets across the country. Apart from this, this company also sells its products on the franchise model. It is the largest multi-channel retailing platform of its kind in the country. This company also does business abroad.
What will the company do with the money received from the IPO?
The company will use the money received from the IPO to expand its business. The company plans to open new modern stores and build warehouses in the country. Apart from this, the company will also invest in its subsidiary company Digital Edge. Along with this, the company will also spend some part of this amount in sales and marketing.
How is the financial condition of the company?
In the financial year 2024, the company’s revenue has increased by about 15 percent. This revenue stood at Rs 6481 crore. If we talk about the company’s PAT (Profit After Tax), then in FY 2024 it increased to 33.85 percent as compared to FY 2023. At the same time, during this period, the company has reduced the loss by 34 percent to Rs 321 crore.
Who are the book-running lead managers for the IPO?
Kotak Investment Banking, Morgan Stanley, BofA Securities, JM Financial, and Avendus are the book-running lead managers of this issue. At the same time, Link Intime India is the registrar.
FirstCry raised Rs 1886 crore from anchor investors
This company raised a total of Rs 1886 crore from 71 anchor investors before the IPO opened on Tuesday. The anchor round includes names of big investors like SBI Mutual Fund, SBI Life, Fidelity Funds, Nordea Asset Management, Max Life, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, SBI Life, Fidelity Funds, Government of Singapore, ADIA, Goldman Sachs.
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(This is not an investment advice. The stock market is subject to risks. Consult experts before making any investment.)