Brainbees Solutions Ltd, the company behind the FirstCry brand, has announced a price band of Rs 440 to Rs 465 per equity share for its upcoming IPO. The shares have a face value of Rs 2.
The omnichannel children's apparel company raised over Rs 1885.8 crore ahead of its proposed IPO, according to the company's exchange filing. This amount was garnered by allocating 4,05,55,428 equity shares to 71 anchor investors at the upper price band of Rs 465 per share.
Notable investors include the Government of Singapore, Monetary Authority of Singapore, Abu Dhabi Investment Authority, Nomura Funds Ireland, Fidelity Funds, Goldman Sachs Funds, SBI Blue Chip Fund, ICICI Prudential, HDFC MF, Kotak Mahindra Trustee, SBI Life Insurance, Bajaj Allianz General Insurance, Bajaj Allianz Life Insurance, Aditya Birla Sun Life Trustee, Amundi, Invesco India, Reliance Nippon Life Insurance, CITI Group Global Markets Mauritius, and Max Life Insurance, among others.
Out of the total allocation to anchor investors, 1,51,60,928 equity shares (37.38%) were allocated to eight domestic mutual funds across 23 schemes.
Brainbees Solutions' IPO will open for subscription from Tuesday, August 6, until Thursday, August 8. The IPO aims to raise Rs 4,193 crore, including an offer-for-sale (OFS) of 54,359,733 equity shares by existing shareholders and a fresh issuance amounting to Rs 1,666 crore.
The OFS comprises up to 46,814,458 equity shares by corporate selling shareholders and up to 7,545,275 equity shares by individual selling shareholders.
The company plans to use the net proceeds to build a new, modern facility and warehouse in India, invest in its subsidiary, and cover lease payments for its existing boutiques.
Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India, JM Financial, and Avendus Capital are the book-running lead managers for the IPO. Link Intime India is the registrar for the offering.
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