The much-awaited Firstcry IPO opened for subscription on August 06. The company will be listed on BSE and NSE on August 13, 2024.
Brainbees Solutions (Firstcry) IPO opened for subscription on August 06, 2024, and will close on August 08, 2024. Firstcry IPO is a book-built issue of ₹4,193.73 crore. The issue combines a fresh issue of 3.58 crore shares aggregating ₹1,666.00 crore with an offer for sale of 5.44 crore shares aggregating ₹2,527.73 crore.
The allotment for the Brainbees Solutions (Firstcry) IPO is expected to be finalised on August 9, 2024. Firstcry IPO will be listed on BSE and NSE with a tentative date of August 13, 2024. Brainbees Solutions (Firstcry) IPO price band is set at ₹440 to ₹465 per share. The minimum lot size for an application is 32 Shares. The minimum amount of investment required by retail investors is ₹14,880.
Purpose of IPO
The company proposes to utilise the net proceeds to finance the following purposes:
- Managing expenses for setting up new modern stores under the “BabyHug” brand, and setting up a warehouse in India.
- Expenditure for lease payments for our existing identified modern stores owned and operated by the company in India
- Investment in its Subsidiary, Digital Age, for (i) setting up new modern stores under the FirstCry brand and other home brands and (ii) lease payments for its existing identified modern stores owned and controlled by the Digital Age in India.
- Investment in its Subsidiary, FirstCry Trading, for overseas expansion by (i) setting up new, modern stores and (ii) setting up warehouse(s) in KSA
- Investment in its Subsidiary, Globalbees Brands, towards the acquisition of the additional stake in its stepdown Subsidiaries
- Sales and marketing initiatives;
- Technology and data science costs, including cloud and server hosting-related costs and
- Funding inorganic growth through acquisition and other strategic initiatives and general corporate.
Pros of Firstcry IPO
- Strong Brand Reputation: FirstCry enjoys a strong brand image and a loyal customer base, which can translate into consistent revenue.
- Large Market Opportunity: India’s growing population and rising disposable incomes present a significant market opportunity for child care products.
- Growth Potential: The company has demonstrated strong revenue growth in recent years, indicating potential for future expansion.
Cons of FirstCry IPO
- Losses: FirstCry has been incurring losses in the past few years, raising concerns about profitability.
- Competition: The e-commerce space is highly competitive, with several players vying for market share.
- Economic Conditions: Economic downturns can impact consumer spending on discretionary items like childcare products.
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
