Brainbees Solutions Ltd, the parent company of the omnichannel kidswear brand FirstCry, has announced the price band for its upcoming initial public offering (IPO) at ₹440-465 per share. The IPO is set to open on August 6, with anchor bidding commencing a day earlier on August 5. The subscription window will close on August 8, and the allotment of shares will be determined on August 9. Refunds and share credits will be processed by August 12, with the company’s listing on the stock exchanges slated for August 13.
The IPO includes a fresh issue of shares worth ₹1,666 Crore, with an Offer For Sale (OFS) component valued at ₹2,527.72 Crore at the upper price band. The total issue size amounts to ₹4,187.72 Crore, positioning the company’s market capitalization at approximately ₹22,475 Crore, or $2.68 billion.
FirstCry had initially filed draft IPO papers with the Securities and Exchange Board of India (SEBI) in December last year. However, the company withdrew the application after SEBI requested additional clarity on key performance indicators (KPIs). Upon refiling, FirstCry provided comprehensive financial disclosures.
The Pune-based company reported a revenue of ₹6,480.86 Crore for FY24, up from ₹5,632.54 Crore in the previous fiscal year. Despite a loss of ₹321.51 Crore, this was a significant improvement from the ₹486.01 Crore loss recorded last year. Additionally, FirstCry’s earnings before interest, taxes, depreciation, and amortization (EBITDA) reached ₹70.49 Crore, compared to an EBITDA loss of ₹262.90 Crore in FY23. The company’s gross merchandise value (GMV) also rose to ₹9,121.13 Crore from ₹7,257.64 Crore in the same period.
As India’s leading multi-channel retailer for mothers, babies, and children’s products, FirstCry operates through a combination of online platforms, company-owned and franchise stores, and general trade distribution. The brand continues to expand its footprint in selected international markets. By FY24, FirstCry had established a network of 1,063 stores, including both franchisee-owned (FOFO) and company-owned (COCO) stores, spanning 533 cities with a total retail space of 2.12 million square feet. The company’s product range includes over 1.65 million SKUs from 7,580 brands, offering a wide variety of items from apparel and footwear to baby gear. The FirstCry app has been downloaded over 127 million times in India.
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