FirstCry IPO: Anchor Book Mobilizes ₹1,885.8 Crore

6 Aug 2024 , 07:25 AM

On August 5, Brainbees Solutions, the company behind the popular online platform FirstCry, mobilized ₹1,885.8 Crore through its anchor book. The much-anticipated ₹4,194-Crore initial public offering (IPO) is set to open for subscription on August 6.

Anchor Investors and Allocation

The anchor book saw significant participation from several marquee institutional investors. Notable names include:

• Government of Singapore
• Monetary Authority of Singapore
• Government Pension Fund Global
• Abu Dhabi Investment Authority
• Nomura Funds
• Goldman Sachs
• Carmignac Portfolio
• Nordea 1
• Florida Retirement System
• Integrated Core Strategies (Asia)
• Societe Generale
• Steadview Capital Mauritius
• Wellington Trust Company
• Citigroup Global
• Verition Multi-Strategy Master Fund

These investors collectively poured in ₹706.95 Crore. Brainbees Solutions disclosed that it has finalized the allocation of 4,05,55,428 equity shares to these anchor investors at ₹465 per share, the upper limit of the price band.

Key Mutual Funds Participation

The anchor book also saw participation from key mutual funds, including:

• Fidelity Funds
• SBI Mutual Fund
• ICICI Prudential Mutual Fund
• HDFC Mutual Fund
• Kotak Mutual Fund
• SBI Life Insurance Company
• Bajaj Allianz General Insurance
• 360 One Flexicap Fund
• Aditya Birla Sun Life Trustee
• TT Emerging Markets Unconstrained Fund
• Amundi Funds
• Invesco India
• Helios Flexi Cap Fund
• DSP India Fund
• Max Life Insurance Company

In total, eight mutual funds applied through 23 different schemes.

IPO Details

Brainbees Solutions, founded in 2010, operates as a multi-channel retailing platform for products catering to mothers, babies, and kids. The company aims to raise approximately ₹4,193.73 Crore through its IPO. This includes a fresh issuance of shares worth ₹1,666 Crore and an offer-for-sale (OFS) of 5.4 Crore equity shares valued at ₹2,527.7 Crore by existing shareholders.

Selling Shareholders

The existing shareholders participating in the OFS are:

• SVF Frog (Cayman)
• Mahindra & Mahindra
• PI Opportunities Fund-1
• TPG Growth V SF Markets
• NewQuest Asia Investments III
• Apricot Investments
• Satyadharma Investments and Trading Company
• Schroders Capital Private Equity Asia Mauritius II
• Sage Investment Trust
• Pratithi Investment Trust

IPO Price Band and Closing Date

The IPO will be available for subscription from August 6 to August 8, with a price band set between ₹440 and ₹465 per share.