New Delhi: On-line e-commerce platform FirstCry’s mum or dad, Brainbees Options Ltd on Thursday fastened a value band of Rs 440-465 a share for its Rs 4,194 crore Preliminary Public Providing (IPO).
The preliminary share sale will open for public subscription on August 6 and shut on August 8 and the bidding for the anchor portion will open for a day on August 5, the corporate introduced.
The general public problem of Pune-based Brainbees Options consists of a recent problem of fairness shares valued at Rs 1,666 crore and an OFS (Supply For Sale) element of as much as 5.44 crore shares price Rs 2,528 crore by current shareholders. This takes the full problem measurement to Rs 4,194 crore.
Below the OFS, SVF Frog, a Cayman Islands-registered entity of Softbank, will promote 2.03 crore fairness shares of Brainbees Options Ltd, and automaker Mahindra & Mahindra (M&M) will offload 28.06 lakh shares of the corporate.
At the moment, Softbank holds a 25.55 per cent stake in Brainbees Options, and M&M owns a ten.98 per cent stake within the multi-brand retailing platform.
Other than Softbank and M&M, different promoting shares within the OFS are PI Alternatives Fund, TPG, NewQuest Asia Investments, Apricot Investments, and Schroders Capital. Additional, people promoting shareholders embrace veteran industrialist Ratan Tata.
The corporate will use internet proceeds from the recent problem for organising new trendy shops beneath the model ‘BabyHug’, funding within the subsidiary, abroad growth, in addition to gross sales and advertising initiatives, moreover, a portion can be used for company common functions.
Brokerage homes have pegged the corporate’s market capitalisation to Rs 24,142 crore post-issue.
Launched in 2010, FirstCry is India’s largest multi-channel, multi-brand retailing platform for moms’, infants’ and children’ merchandise. It was arrange with the intention of making a one-stop vacation spot for parenting wants throughout commerce, content material, neighborhood engagement, and training, primarily based on model affinity, loyalty and belief of consumers.
Additional, FirstCry expanded internationally in choose markets, establishing a presence within the United Arab Emirates (UAE) and Kingdom of Saudi Arabia (KSA) in 2019 and 2022, respectively.
The corporate stated that 75 per cent of the problem measurement has been reserved for certified institutional consumers, 35 per cent for non-institutional traders and the remaining 10 per cent for retail traders. Buyers can bid for no less than 32 fairness shares and in multiples thereof.
Kotak Mahindra Capital Firm Ltd, Morgan Stanley India Firm Personal Ltd, BofA Securities India Ltd, JM Monetary Ltd and Avendus Capital Personal Ltd are the guide working lead managers to the problem.
