Brainbees Solutions Ltd, the parent company of FirstCry, made a remarkable debut on the stock market today. The company’s shares were listed with a significant premium, reflecting strong investor confidence in the brand.
Listing Details
- NSE Listing: FirstCry shares were listed at ₹651 apiece, which is a 40% premium over the issue price of ₹465 per share.
- BSE Listing: On the BSE, the shares were listed at ₹625 apiece, marking a 34.41% premium.
IPO Overview
- Issue Price: The IPO was priced between ₹440 to ₹465 per share, with the company raising ₹4,193.73 crore at the upper end.
- Subscription: The IPO was well-received, with a total subscription of 12.22 times. The retail category was subscribed 2.31 times, Qualified Institutional Buyers (QIBs) 19.30 times, and Non-Institutional Investors (NIIs) 4.68 times.
Financial Performance
For FY24, Brainbees Solutions reported:
- Net Sales: ₹6,480.9 crore
- EBITDA: ₹70.5 crore
- Net Loss: ₹321.5 crore
Market Sentiment
Ahead of the listing, the grey market indicated a strong debut, with a grey market premium (GMP) of ₹80, approximately 17% higher than the upper price band. This strong demand was reflected in the stock’s listing performance.
Company Profile
Brainbees Solutions Ltd operates FirstCry, India’s largest multi-channel retail platform for mothers’, babies’, and kids’ products. The company is expanding its presence in select international markets.
