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20 Nov 2024
Brainbees Solutions Limited (FirstCry) IPO And Its GMP
FirstCry is India’s largest multi-channel retailing platform for Mothers, Babies and Kids products, in terms of GMV, for the year ending December 2023, with a growing presence in select international markets. In India, they sell Mothers, Babies, and Kids products through their online platform, company-owned modern stores, franchisee-owned modern stores and general trade retail distribution.
They launched the FirstCry platform in India in 2010 to create a one-stop destination for parenting needs across commerce, content, community engagement, and education. They named their platform “FirstCry” because they believe that a baby’s first cry is a special moment for parents and they aim to make such moments of the parenting journey filled with joy and happiness.
IPO Date: The subscription period for the IPO is from August 6, 2024, to August 8, 2024.
Issue Details:
- ● Fresh Issue: 3.58 crore shares aggregating to Rs 1,666.00 crores.
- ● Offer for Sale (OFS): 5.44 crore shares aggregating to Rs 2,527.73 crores.
Price Band: The IPO price band is set at ₹440 to ₹465 per share.
Minimum Lot Size: 32 shares.
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Lead Managers:
- ● Kotak Mahindra Capital Company Limited
- ● Morgan Stanley India Company Pvt Ltd
- ● BofA Securities India Limited
- ● JM Financial Limited
- ● Avendus Capital Pvt Ltd
Registrar: Link Intime India Private Ltd is managing the IPO’s registries
WHAT IS GMP?
GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
Brainbees Solutions (Firstcry) GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 12-08-2024 | 465.00 | 90.0 (19%) | 12-Aug-2024 12:30 |
| 10-08-2024 | 465.00 | 72 | 10-Aug-2024 12:10 |
| 09-08-2024 | 465.00 | 42 | 9-Aug-2024 11:10 |
| 08-08-2024 | 465.00 | 20.0 (4%) | 8-Aug-2024 11:10 |
| 07-08-2024 | 465.00 | 30.0 (6%) | 7-Aug-2024 11:10 |
| 06-08-2024 | 465.00 | 45.0 (10%) | 6-Aug-2024 10:10 |
| 05-08-2024 | 465.00 | 70.0 (15%) | 5-Aug-2024 12:00 |
| 03-08-2024 | 465.00 | 70.0 (15%) | 3-Aug-2024 12:00 |
| 02-08-2024 | 465.00 | 100.0 (22%) | 2-Aug-2024 12:00 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Brainbees Solutions (Firstcry) IPO Overview
| Detail | Description |
|---|---|
| IPO Date | August 6, 2024 to August 8, 2024 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹440 to ₹465 per share |
| Lot Size | 32 Shares |
| Total Issue Size | 90,187,690 shares (aggregating up to ₹4,193.73 Cr) |
| Fresh Issue | 35,827,957 shares (aggregating up to ₹1,666.00 Cr) |
| Offer for Sale | 54,359,733 shares of ₹2 (aggregating up to ₹2,527.73 Cr) |
| Employee Discount | Rs 44 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 483,349,470 |
| Shareholding post issue | 519,177,427 |
Brainbees Solutions (Firstcry) IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Tuesday, August 6, 2024 |
| IPO Close Date | Thursday, August 8, 2024 |
| Basis of Allotment | Friday, August 9, 2024 |
| Initiation of Refunds | Monday, August 12, 2024 |
| Credit of Shares to Demat | Monday, August 12, 2024 |
| Listing Date | Tuesday, August 13, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 8, 2024 |
Brainbees Solutions (Firstcry) IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 32 | ₹14,880 |
| Retail (Max) | 13 | 416 | ₹193,440 |
| S-HNI (Min) | 14 | 448 | ₹208,320 |
| S-HNI (Max) | 67 | 2,144 | ₹996,960 |
| B-HNI (Min) | 68 | 2,176 | ₹1,011,840 |
Brainbees Solutions (Firstcry) IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 75.00% of the Net offer |
| Retail Shares Offered | Not more than 10.00% of the Offer |
| NII (HNI) Shares Offered | Not more than 15.00% of the Offer |
Company & Financials
Founded in 2010, Brainbees Solutions Limited offers products for mothers, babies and Kids via its online platform 'FirstCry'. Brainbees Solutions (Firstcry)'s mission is to create a one-stop store for parents' retail, content, community engagement and education needs. The company offers everything needed for an infant up to the age of 12, including apparel, footwear, baby gear, nursery, diapers, toys and personal care, amongst others. The company offers products from Indian third-party brands, global brands and its brands. The company has an extensive offering for mothers, babies and Kids with more than 1.5 million SKUs from more than 7,500 brands on its multi-channel platform across categories including apparel and fashion, toys, books, school supplies, diapers, bath and skincare, nutrition and breastfeeding, health and safety, baby gear and maternity wear. According to a report by RedSeer Report, Brainbees Solutions (Firstcry) is the largest specialized online retail platform for maternal, baby and Kids' products in the UAE, in terms of GMV, for the year ending December 2023. For the nine months ended December 31, 2023, and the financial years 2023, 2022, and 2021, the Company had a network of more than 900 contract manufacturers in India and other countries for its house brands, excluding contract manufacturers engaged by Globalbees Brands and its subsidiaries.
Brainbees Solutions Limited Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||||||||||||
| Assets | 7,510.38 | 7,119.83 | 6,197.16 | |||||||||||||||||||||||||||||||||||||
| Revenue | 6,575.08 | 5,731.28 | 2,516.92 | |||||||||||||||||||||||||||||||||||||
| Profit After Tax | -321.51 | -486.06 | -78.69 | |||||||||||||||||||||||||||||||||||||
| Net Worth | 3,170.74 | 3,456.26 | 3,527.94 | |||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 3,081.74 | 3,367.21 | 3,439.17 | |||||||||||||||||||||||||||||||||||||
| Total Borrowing | 462.72 | 176.47 | 90.16 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| RoNW | -8.65 |
Objectives of Brainbees Solutions (Firstcry) IPO
The Company proposes to utilize the net proceeds to finance the following purposes:
- 1. Expenses of the Company for (I) establishment of new modern stores under the "BabyHug" brand and (II) establishment of a warehouse in India.
- 2. Expenditure on lease payments for existing identified modern stores owned and operated by the Company in India.
- 3. Investments in its Subsidiary Digital Age for (I) setting up new modern stores under the FirstCry brand and other house brands of the Company and (II) lease payments for the existing identified modern stores owned and controlled by Digital Age in India.
- 4. Investment in Subsidiary FirstCry Trading for overseas expansion by: (I) establishment of new modern stores and (II) establishment of warehouses in KSA.
- 5. Investment in Subsidiary Globalbees Brands for the acquisition of an additional stake in its Subsidiaries.
- 6. Sales and marketing initiatives.
- 7. Technology and data science costs, including cloud and server hosting costs.
- 8. Financing of inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.
Brainbees Solutions (FirstCry) IPO Review
The company enjoys parenting mothers' first choice as it has products for kids from the -9M (conception) till the age of 12 years and also a lot more products for mother’s care. It has posted losses for the reported periods despite its rising top line and number of stores internationally. Based on its negative earnings, the issue is priced at a negative P/E. Well-informed investors may park funds for the long term.
FAQs for FirstCry IPO
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What is the FirstCry IPO?
FirstCry IPO is a main-board IPO. They are going to raise ₹4,193.73 Crores via IPO. The issue is priced at ₹440 to ₹465 per equity share. The IPO is to be listed on BSE & NSE.
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When will FirstCry IPO open?
The IPO is to open on August 6, 2024, for QIB, NII, and Retail Investors.
-
What is the FirstCry IPO Investors Portion?
The investors’ portion for QIB is 75%, NII is 15%, and Retail is 10%.
-
What is FirstCry IPO Size?
FirstCry IPO size is ₹4,193.73 crores.
-
What is the FirstCry IPO Price Band?
FirstCry IPO Price Band is ₹440 to ₹465.
-
What is the FirstCry IPO Allotment Date?
FirstCry IPO allotment date is August 9, 2024.
-
What is the FirstCry IPO Listing Date?
FirstCry IPO listing date is August 13, 2024. The IPO is to be listed on BSE and NSE.
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What is the current GMP of the FirstCry IPO?
The current GMP of FirstCry IPO is 90.0 (19%).
RHP:
RHP of Brainbees Solutions Limited IPO
DRHP:
DRHP of Brainbees Solutions Limited IPO
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What is the FirstCry IPO?
FirstCry IPO is a main-board IPO. They are going to raise ₹4,193.73 Crores via IPO. The issue is priced at ₹440 to ₹465 per equity share. The IPO is to be listed on BSE & NSE.
-
When will FirstCry IPO open?
The IPO is to open on August 6, 2024, for QIB, NII, and Retail Investors.
-
What is the FirstCry IPO Investors Portion?
The investors’ portion for QIB is 75%, NII is 15%, and Retail is 10%.
-
What is FirstCry IPO Size?
FirstCry IPO size is ₹4,193.73 crores.
-
What is the FirstCry IPO Price Band?
FirstCry IPO Price Band is ₹440 to ₹465.
-
What is the FirstCry IPO Allotment Date?
FirstCry IPO allotment date is August 9, 2024.
-
What is the FirstCry IPO Listing Date?
FirstCry IPO listing date is August 13, 2024. The IPO is to be listed on BSE and NSE.
-
What is the current GMP of the FirstCry IPO?
The current GMP of FirstCry IPO is 90.0 (19%).
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