The initial public offer of e-commerce platform FirstCry's parent Brainbees Solutions received 12.22 times subscription on the closing day of bidding on Thursday.
The Rs 4,194 crore initial share sale received bids for 60,64,29,472 shares against 4,96,39,004 shares on offer, as per NSE data.
The portion for Qualified Institutional Buyers (QIBs) got subscribed 19.30 times while the quota for non institutional investors received 4.68 times subscription. The category for Retail Individual Investors (RIIs) garnered 2.31 times subscription.
Brainbees Solutions on Monday said it has collected Rs 1,886 crore from anchor investors.
Price band
The Initial Public Offer (IPO) has a price band of Rs 440-465 a share.
The public issue of Pune-based Brainbees Solutions consists of a fresh issue of equity shares valued at Rs 1,666 crore and an OFS (offer for sale) component of up to 5.44 crore shares worth Rs 2,528 crore by existing shareholders. This takes the total issue size to Rs 4,194 crore.
Under the OFS, SVF Frog, a Cayman Islands-registered entity of Softbank, sold 2.03 crore equity shares of Brainbees Solutions, and automaker Mahindra & Mahindra (M&M) offloaded 28.06 lakh shares of the company.
Apart from Softbank and M&M, others selling shares in the OFS are PI Opportunities Fund, TPG, NewQuest Asia Investments, Apricot Investments and Schroders Capital. Further, individuals selling shareholders include veteran industrialist Ratan Tata.
The company will use net proceeds from the fresh issue for setting up stores under the brand 'BabyHug', investment in subsidiaries, overseas expansion, and sales and marketing initiatives. Besides, a portion will be used for corporate general purposes.
Brokerage houses have pegged the company's market capitalisation at Rs 24,142 crore post-issue.
About the company
Launched in 2010, FirstCry is India's largest multi-channel, multi-brand retailing platform for mothers', babies' and kids' products. It was set up to create a one-stop destination for parenting needs across commerce, content, community engagement, and education, based on brand affinity, loyalty and trust of customers.
Further, FirstCry established itself in the UAE and Saudi Arabia in 2019 and 2022, respectively.
Kotak Mahindra Capital Company, Morgan Stanley India Company, BofA Securities India, JM Financial and Avendus Capital are the book-running lead managers to the issue.
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