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19 Nov 2024
MUMBAI: Brainbees Solutions, the parent company of Firstcry, an online platform for baby and kids products, along with Snapdeal-owned Unicommerce eSolutions and two other companies, have received regulatory approvals for their IPOs.
The other two companies are Interarch Building Products and Gala Precision Engineering.
Firstcry received an observation letter from Sebi on June 25, after filing its DRHP in April. This letter means the company can launch its IPO within the next year.
Brainbees' IPO will include a fresh issuance of shares worth Rs 1,816 crore and an offer-for-sale (OFS) of 5,43,91,592 equity shares by existing shareholders, although the OFS size was not disclosed. Major shareholders in Brainbees include SVF Frog (25.53%) and Mahindra & Mahindra (10.97%).
Unicommerce eSolutions, Interarch Building Products, and Gala Precision Engineering received Sebi’s observation letters on June 28. Unicommerce’s IPO, which was filed in January, will be an OFS of 2.98 million shares, with AceVector (formerly Snapdeal), B2 Capital Partners, and SB Investment Holdings as the selling shareholders.
Interarch Building Products, which filed its draft papers in March, plans a mix of Rs 200 crore of fresh issues and an OFS of 44.5 lakh shares by promoters and investors, including Arvind Nanda, Gautam Suri, Ishaan Suri, Shobhna Suri, and OIH Mauritius.
Gala Precision Engineering, which filed its draft papers in February, will issue 25,58,416 fresh shares and an OFS of 6,16,000 shares by existing shareholders, primarily promoter Vishanji Harshi Gala and others. Promoters currently hold a 74.56% stake in the company, with the remaining shares held by the public, including Pooja Unichem.
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