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FirstCry IPO

FirstCry IPO

  • Status: Closed
  • RHP:
  • ₹ 14,080 / 32 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    13 Aug 2024

  • Listing Price

    ₹625.00

  • Listing Change

    34.41%

  • Last Traded Price

    ₹642.65

IPO Details

  • Open Date

    06 Aug 2024

  • Close Date

    08 Aug 2024

  • IPO Price Range

    ₹ 440 to ₹ 465

  • IPO Size

    ₹ 4,193.73 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    13 Aug 2024

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FirstCry IPO Subscription Status

Last Updated: 03 September 2024 5:00 PM by 5Paisa

Last Updated: 8th August 2024, 5:35 PM by 5paisa

FirstCry IPO is set to open on 6 August 2024 and will close on 8 August 2024. The company provides a diverse range of goods for moms, infants, and children via its online platform 'FirstCry'.

The IPO includes a fresh issue of 3,58,27,957 shares aggregating up to ₹1,666 Cr and it also includes an offer for sale of 5,43,59,733 shares aggregating up to ₹2,526.73 Cr. The price range is ₹440 to ₹465 per share and the lot size is 32 shares. 

The allotment is scheduled to be finalized on 9 August 2024. It will go public on BSE & NSE, with a tentative listing date of 13 August 2024.

Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Pvt Ltd, Bofa Securities India Limited, Jm Financial Limited and Avendus Capital Pvt Ltd are the book-running lead managers, while Link Intime India Private Ltd is the registrar. 


Objectives Of FirstCry IPO

1. Expenses of the Company for: 
   a. Establishment of new modern stores under the "BabyHug" brand.
   b. Establishment of a warehouse in India.
2. Expenditure on lease payments for existing identified modern stores owned and operated by the Company in India.
3. Investments in its Subsidiary Digital Age for
   a. Setting up new modern stores under the FirstCry brand and other house brands of the Company.
   b. Lease payments for the existing identified modern stores owned and controlled by Digital Age in India.
4. Investment in Subsidiary FirstCry Trading for overseas expansion by
   a. Establishment of new modern stores.
   b. Establishment of warehouses in KSA.
5. Investment in Subsidiary Globalbees Brands for the acquisition of an additional stake in its Subsidiaries.
6. Sales and marketing initiatives.
7. Technology and data science costs, including cloud and server hosting costs.
8. Financing of inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.
 

FirstCry IPO Size

Types Size (₹Cr)
Total IPO size 4193.73
Offer for sale 1666
Fresh issue 2527.73

FirstCry IPO Lot Size

Application Lots Shares Amount (₹)
Retail (Min) 1 32 14,880
Retail (Max) 13 416 1,93,440
S-HNI (Min) 14 448 2,08,320
S-HNI (Max) 67 2144 9,96,960
B-HNI (Min) 68 2176 10,11,840

 

FirstCry IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
QIB 19.30 2,70,36,953 52,19,04,896 24,268.578
NII (HNI) 4.68 1,35,18,476 6,32,38,304     2,940.581
Retail 2.31 90,12,317 2,08,16,224 967.954
Total 12.22 4,96,39,004 60,64,27,424 28,198.875

 

FirstCry IPO Anchor Allocation

Anchor Bid Date 05 August, 2024
Total no. of shares offered 40,555,428
Portion Size for Anchor Investors 1,885.83
Lock in Period for 50% shares (30 days) 08 September, 2024
Lock in Period for rest of shares (90 days) 07 November, 2024

 

Brainbees Solutions Limited (FirstCry) , established in 2010, provides a diverse range of goods for moms, infants, and children via its online platform 'FirstCry'. The company's objective is to offer a one-stop shop for parents' requirements in shopping, content, community participation, and education. FirstCry offers everything a kid needs from birth to the age of twelve, including clothing, footwear, baby gear, nursery goods, diapers, toys, and personal care products, among others.

The firm offers a diverse product line with over 1.5 million SKUs from over 7,500 companies. These include items from Indian third-party companies, foreign brands, and FirstCry's own brands. Notably, Brainbees Solutions (FirstCry) has built great brand awareness and consumer trust, as seen by the successful launch of BabyHug, one of its own brands. According to a RedSeer analysis, BabyHug is India's leading multi-category brand for mother, baby, and children's items in terms of GMV for the fiscal year ending December 2023. Other notable house brands include Pine Kids, Cute Walk by BabyHug, and Babyoye.

Furthermore, a RedSeer analysis revealed that Brainbees Solutions (FirstCry) is the largest specialized online retail platform for maternity, infant, and children's items in the UAE in terms of GMV for the fiscal year ending December 2023. The corporation has established a network of over 900 contract manufacturers in India and other countries to support its house brands. This figure excludes contract manufacturers used by Globalbees Brands and its subsidiaries.

As of December 31, 2023, Brainbees Solutions (FirstCry) has 3,411 full-time and 2,475 contract workers. This large staff supports the company's operations and contributes to its position as a top provider of mother, baby, and children's products in a variety of markets.

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY24 FY23 FY22
Revenue 6,575.08 5,731.28 2,516.92
EBITDA 274.45 74.99 96.20
PAT -321.51 -486.06 -78.69
Particulars (in Rs. Crores) FY24 FY23 FY22
Total Assets 7,510.38 7,119.83 6,197.16
Share Capital 81.47 81.47 81.40
Total Borrowings 462.72  176.47 90.16
Particulars (in Rs. Crores) FY24 FY23 FY22
Net Cash Generated From / (used in) operating activities -42.07 -398.99 -131.73
Net Cash Generated From / (used in) investing activities 62.94 304.09 -490.58
Net Cash Generated From / (used in) financing activities 81.47 -50.61 644.38
Net Increase (Decrease) In Cash And Cash Equivalents 102.35 -145.52 22.07


Strengths

1. FirstCry offers a vast selection of over 1.5 million SKUs from more than 7,500 brands.
2. The company has successfully developed several house brands, including BabyHug, Pine Kids, Cute Walk by BabyHug, and Babyoye. 
3. According to RedSeer, FirstCry is the largest specialized online retail platform for maternal, baby, and kids' products in both India and the UAE, based on GMV.
4. With over 900 contract manufacturers in India and other countries, Brainbees Solutions ensures a steady supply of products. 
5. The company employs 3,411 full-time employees and 2,475 contract employees, which helps manage operations effectively and sustain growth.
 

Risks

1. The reliance on over 900 contract manufacturers for product supply introduces risks related to quality control, production delays, and potential supply chain disruptions.
2. The retail market for mother, baby, and kids' products is highly competitive.
3. Economic fluctuations can affect consumer spending on non-essential items.
4. Operating in multiple countries exposes Brainbees Solutions to various regulatory requirements. 
5. As an online retail platform, FirstCry relies heavily on technology for operations.
 

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FAQs

The FirstCry IPO opens from 6th August to 8th August 2024.

The size of FirstCry IPO is ₹4,193.73 Cr.

The price of FirstCry IPO is fixed at ₹440 to ₹465 per share. 

To apply for FirstCry IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the FirstCry IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.
 

The minimum lot size of FirstCry IPO is 32 shares and the investment required is ₹14,880.

The share allotment date of FirstCry IPO is 9th August 2024.

The FirstCry IPO will be listed on 13th August 2024.

ICICI Securities Limited, Axis Bank Limited, Citigroup Global Markets India Private Limited and Ambit Private Limited are the book-running lead managers for FirstCry IPO.

FirstCry plans to utilize the raised capital from the IPO for:

1. Expenses of the Company for: 
    a. Establishment of new modern stores under the "BabyHug" brand.
    b. Establishment of a warehouse in India.
2. Expenditure on lease payments for existing identified modern stores owned and operated by the Company in India.
3. Investments in its Subsidiary Digital Age for
    a. Setting up new modern stores under the FirstCry brand and other house brands of the Company.
    b. Lease payments for the existing identified modern stores owned and controlled by Digital Age in India.
4. Investment in Subsidiary FirstCry Trading for overseas expansion by
    a. Establishment of new modern stores.
    b. Establishment of warehouses in KSA.
5. Investment in Subsidiary Globalbees Brands for the acquisition of an additional stake in its Subsidiaries.
6. Sales and marketing initiatives.
7. Technology and data science costs, including cloud and server hosting costs.
8. Financing of inorganic growth through acquisitions and other strategic initiatives and general corporate purposes