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The initial public offer (IPO) of FirstCry’s parent company Brainbees Solutions Limited will open on August 6. Investors will be able to bid for the IPO till August 8. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on August 13.
So far the company has not given information about how much money it wants to raise through this issue. According to the report, Brainbees Solutions can raise ₹ 1,821.44 crores through IPO. For this, the company will issue fresh shares worth ₹ 1,816 crores. Also, the existing investors of the company will sell 5.44 crore shares through Offer for Sale i.e. OFS.
How much minimum and maximum money can investors invest?
The company has not yet released the issue price of the IPO. Brainbees Solutions will soon decide the issue price of the IPO, after which the minimum and maximum investment amount will be known.
10% of the issue will be reserved for retail investors
75% of the issue of Brainbees Solutions Limited is reserved for Qualified Institutional Buyers (QIB). Apart from this, about 10% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).
SoftBank holds 25.5% stake in FirstCry
SoftBank, the largest shareholder of FirstCry, holds a 25.5% stake in the firm. M&M holds 10.98% stake. According to the report, SoftBank’s unit SVF Frog will sell 2.03 crore shares of the company through the IPO. M&M will also sell its 0.58% stake or 28 lakh shares in BrainBees Solutions through this issue. Premji Invest will sell 86 lakh shares during the OFS.
FirstCry has a network of 936 stores in India
FirstCry had said 7 months ago that it would use the funds raised from the IPO to increase the number of its stores in India and Saudi Arabia and to clear lease payments of existing Indian stores. The company has a network of 936 stores in India, but it had not yet disclosed the number of its stores in Saudi Arabia.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
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