FirstCry IPO Allotment Today: The IPO allotment of e-commerce platform FirstCry’s parent Brainbees Solutions Ltd is likely to be finalised today, in the evening. The FirstCry IPO, which was open for subscription between August 6 and August 8, received 12.22 per cent subscription. The IPO allotment is scheduled to be finalised today and the investors will receive bank debit message if allotted the scrips. They can also check the Brainbees Solutions IPO allotment status on both BSE and NSE websites, as well as on registrar Link Intime India’s portal.
The 4,193.73-crore IPO received a 12.22 times subscription, garnering bids for 60,63,96,800 shares as against 4,96,39,004 shares on offer.
Its price band was fixed at Rs 440-Rs 465 apiece. The Brainbees Solutions IPO listing will likely take place on both BSE and NSE on August 13.
Brainbees Solutions IPO: How To Check Allotment Status
Once the IPO allotment is finalised, the status can be checked by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Brainbees Solutions Ltd’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime portal — https://www.linkintime.co.in/Initial_Offer/public-issues.html and check the Brainbees Solutions allotment status.
Brainbees Solutions IPO GMP Today
According to market observers, unlisted shares of Brainbees Solutions Ltd are trading Rs 36 higher in the grey market than their issue price. The Rs 36 grey market premium or GMP means the grey market is expecting a 7.74 per cent listing gain from the public issue. The unlisted shares of Brainbees Solutions are trading at Rs 501 apiece in the grey market as against its upper issue price of Rs 465.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Brainbees Solutions IPO: Details
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, will sell 2.03 crore equity shares of Brainbees Solutions, and automaker Mahindra & Mahindra (M&M) will offload 28.06 lakh shares of the company.
Currently, Softbank holds 25.55 per cent stake in Brainbees Solutions, and M&M owns 10.98 per cent stake.
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.
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 Ltd, 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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