Brainbees Solutions Raises ₹18,858 Crores from Anchor Investors
Overview of the IPO
Brainbees Solutions Limited (BSL), the parent company of FirstCry, has successfully raised ₹18,858 crores from 71 anchor investors ahead of its initial public offering (IPO). The company allotted 40,555,428 equity shares to these investors at the upper end of the price band.
Details of the Anchor Investment
The anchor investors include prominent domestic and international funds such as Goldman Sachs, Morgan Stanley, Fidelity, and ICICI Prudential. Each of these investors has subscribed to a minimum of ₹100 crores worth of shares. BSL has reserved shares worth ₹3 crores for its eligible employees, who will receive the shares at a discounted price.
About Brainbees Solutions Limited
BSL is a leading e-commerce company in India, primarily focused on the mother and baby care segment. Its flagship brand, FirstCry, is one of the largest online retailers for babies and children in the country. The company also operates other brands such as BabyOye and Mahindra First Choice.
IPO Details
Brainbees Solutions is planning to issue fresh shares worth ₹1,816 crores through its IPO. Additionally, existing investors will offload 543.9 million shares through an offer for sale. The issue is expected to open for subscription on August 10, 2023, and close on August 12, 2023. The price band for the IPO has been set at ₹1,550 to ₹1,661 per share.
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