FirstCry IPO

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.
 

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.