Firstcry's IPO affected by deteriorating market sentiment…?
The IPO of Brainbees Solutions Limited, which sells kidswear under the name Firstcry, has also received a lukewarm response from investors but it is better than the response received by ola Electric's IPO. Firstcry's IPO closed with 12.22 times subscription on the last day of application, in which institutional investors have participated in the IPO in large numbers. The reserve quota for retail investors has received a lukewarm response.
In the IPO of Brainbees Solutions Limited, 2,70,36,953 shares were reserved for institutional investors (QIB) and applications have been received for a total of 52.19 crore shares in this category and this category has been subscribed only 19.30 times. The category reserved for non-institutional investors has also received a lukewarm response. 1,35,18,476 shares were reserved for non-institutional investors and a total of 6,32,38,752 shares were applied for and this category was subscribed 4.68 times. 90,12,317 shares were reserved for retail investors and 2,0817,792 shares were applied for and this category was subscribed only 2.21 times. The category reserved for employees was subscribed 6.57 times.
FirstCry's IPO opened on august 6 and august 8 was the last day for applications. The company has fixed a price band of Rs 440 to Rs 465 for this IPO. The company has raised Rs 4,187.72 crore through the IPO. In the company's IPO, Rs 1,666 crore has been raised through fresh shares and Rs 2,527.72 crore through offer for sale. According to the IPO, the value of the company has been estimated at Rs 22,475 crore. Shares will be allotted to successful investors on august 9, while shares will be credited to their demat account on august 12. After the IPO, the listing of FirstCry shares will be done on august 13.
FirstCry is a big retail brand in the child care category which was founded in 2010. The company sells products related to child care including children's clothes in many major cities of the country through omnichannels i.e. online and offline stores. The company is currently running more than 100 stores in 85 cities. The company sells more than 90 thousand products of 12 hundred brands including Funskool, Farlin, Mattel, Pampers, Disney. The company had filed a fresh draft paper for its IPO on 30 April. In the grey market, the GMP of FirstCry's IPO is trading at Rs 17. That means, according to this, the share is expected to be listed on the stock exchange at Rs 482.
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