parent Brainbees Solution on Thursday set its IPO price band in the range of Rs 440 to Rs 465 per equity share for its nearly $3 billion IPO.
The IPO consists of a fresh issue of Rs 1,666 crore and an offer for sale of 543 lakh equity shares by its existing shareholders. Founder and CEO Supam Maheshwari is not selling any stake in the IPO.
The omnichannel retailer does not have an identifiable promoter for its public debut, but its largest shareholder, SoftBank, through SVF Frog, is selling 2.03 crore equity shares while Mahindra & Mahindra (M&M) will sell 28.06 lakh equity shares in the company.
The company, which sells baby and mother care products, further announced that the bidding state for anchor investors will start on August 5, while offer will open on August 6. The bidding process will close on August 8 and the company expects to list itself on August 13.
Supam Maheshwari-led FirstCry had initially withdrew its IPO paper in April after SEBI sought info on key performing indices of the company pursuant to its DRHP. It later refiled them with key metrics including a clocking a revenue of Rs4, 184 crore during the first nine months of FY24 ending December 31, 2023. During the same period, the company’s losses stood at Rs 287 crore.
The company sees Kotak Investment Banking, Morgan Stanley, BoFA Securities, JM Financial and Avendus as its book running lead managers.
