New Delhi: FirstCry's parent company, Brainbees Solutions Ltd, saw its e-commerce platform shares debut on Tuesday with a 40 percent premium over the Rs 465 issue price. The stock was introduced at Rs 625 on the BSE, marking a 34.40 percent increase from the initial price. Afterwards, it jumped by 52 percent to reach Rs 707.05. At the NSE, it was listed at Rs 651, showing a significant increase of 40 percent. The company was valued at Rs 34,741.21 crore in the market.
Brainbees Solutions' IPO saw a subscription rate of 12.22 times on the final day of bidding on Thursday. The price range for the Rs 4,194 crore IPO was set at Rs 440-465 per share. Pune-based Brainbees Solutions announced a public offering with a new equity shares issue worth Rs 1,666 crore and an OFS component of up to 5.44 crore shares valued at Rs 2,528 crore by current shareholders. The company plans to utilize the net proceeds from the new offering to establish stores for the 'BabyHug' brand, invest in subsidiaries, expand overseas, and fund sales and marketing efforts. In addition, some of the funds will be allocated for company-wide expenses.
Established in 2010, FirstCry is the biggest retailing platform in India that offers a variety of products for mothers, babies, and kids through multiple channels and brands. It was established to provide a comprehensive hub for parenting needs through commerce, content, community engagement, and education, leveraging customer trust and loyalty. Additionally, FirstCry expanded its presence in the UAE and Saudi Arabia in 2019 and 2022, respectively.
FIRST Business Portal addressing the potential of business capability of North East Region.
