Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
Brainbees Solutions, the parent company of FirstCry, has secured approval from SEBI to raise funds via an IPO. The Pune-based firm plans to issue new equity shares worth ₹1,816 crore and offer up to 5.44 crore shares for sale by current shareholders.
The stakeholders selling their shares include SVF Frog (Softbank), Mahindra & Mahindra (M&M), TPG, PI Opportunities Fund, Apricot Investments, NewQuest Asia Investments, Valiant Mauritius, Think India Opportunities Fund, TIMF Holdings, and Schroders Capital.
Softbank currently holds a 25.55% stake, while M&M owns 10.98% of Brainbees Solutions.
In May 2024, Brainbees re-submitted its preliminary IPO documents to SEBI, following directives to include more detailed key performance indicators (KPIs) such as the number of orders, annual transacting customers, and average order value. Established in 2010, Brainbees Solutions operates an online store for newborn, baby, and kids’ products and is headquartered in Pune.
Additionally, three other companies have received SEBI’s observations regarding their IPO filings.
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