Brainbees Solutions-Firstcry is into Consumer Childcare Products and is looking raise funds through Fresh Issue and Offer For Sale
Brainbees Solutions-Firstcry IPO: Brainbees Solutions Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 2 per share via initial public offering.
Promoters of Brainbees Solutions-Firstcry are Doesnot have any identifiable promoters and holds % stake in the company.
Key Details:
- Initial Public Offer comprising of a Fresh Issue of Equity shares aggregating up to Rs 18,160 Cr and an Offer for Sale of up to 54,391,592 Equity Shares.
- Kotak Mahindra Capital,Morgan Stanley India,BofA Securities,JM Financial,Avendus Capital have been appointed as lead merchant bankers for the proposed IPO.
- It has appointed Link Intime India Private Limited as Registrar and Share transfer Agent.
- Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 1,816 Crs and offer-for-sale (OFS) of up to 54,391,592 equity shares by Selling shareholders includes Corporates 1) SVF Frog (Cayman) Ltd 2) Mahindra & Mahindra Limited 3) PI Opportunities Fund- 1 4) TPG Growth V SF Markets Pte. Ltd. 5) NewQuest Asia Investments III Limited..
Objects of the issue:
1) Capex on setting up new modern stores 'BabyHug' and warehouse and lease payments - Rs648 cr., 2) Investment in Subsidiary - FirstCry Trading for overseas expansion - Rs155.6 cr 5) Investment in subsidiary Globalbees towards acquisition - Rs170.5 cr 6) Sales and Marketing exp - Rs100 cr , 7) Technology and data science cost - Rs57.6 cr and 8) Funding inorganic growth and General corporate purposes.
About Company:
Brainbees Solutions Limited, popularly known as FirstCry, is Indian e-commerce company specializing in baby and kids’ products. Founded in 2010 and headquartered in Pune, Maharashtra, FirstCry offers products including diapers, wipes, baby care items, toys, clothing, and school supplies. Company has presence in India, UAE and Saudi Arabia .Company owns brands which includes “FirstCry”, “BabyHug”, “Babyoye”, “Cutewalk” and “Pine Kids” amongst others.
The company operates stores in a hybrid model having online presence through www.fristcry.com and has network of 936 offline brick-and-mortar stores (904 stores in FY23) FirstCry and BabyHug modern stores in 465 cities in 27 states and four union territories across India with over 1.76 million square feet of retail space, as at Q1FY24. Also, company sells its products to more than 122,600 third-party stores in India through retail distribution network covering 363 distributors and over 1,200 sub-distributors across 1,099 cities in India. Additionally, company operate a network of 180 pre-schools under a brand name of FirstCry Intellitots across 91 in India.
About Industry:
Childcare products spending in India is currently nascent and rapidly growing. The market comprises both horizontal and vertical players. The vertical players have single childcare product category focused value propositions, while the horizontal players operate across childcare products’ categories. Apparel, which encompasses clothing, footwear, and accessories, is the largest segment within India's childcare products market, and the non-apparel categories, such as consumables, hard goods, and toys and games, are growing faster than the apparel category due to twin trends of increasing adoption and premiumization.
Source: SEBI, BSE, NSE, DRHP, Brainbees Solutions-Firstcry, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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