Aug 5, 2024
By: Sourabh Jain
Credit: Firstcry
Pune-based Brainbees Solutions (Firstcry)’s initial public offering (IPO) will open on Tuesday, August 6, and will close on Thursday, August 8.
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Brainbees Solutions (Firstcry) has fixed a price band of ₹440-₹465 per share for its public issue.
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Brainbees Solutions (Firstcry) is a Pune-based company that offers products for mothers, babies, and kids under the Firstcry platform.
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Brainbees Solutions (Firstcry) is looking to raise ₹4,193.73 crore from the current IPO. This includes a fresh issue of ₹1,666 crore and an offer for sale (OFS) component of ₹2,527.73 crore.
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Investors can bid for a minimum of 32 shares and in multiples of 32 shares thereafter.
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The company, founded in 2010 offers a comprehensive range of products for infants and children up to the age of 12 years, including toys, diapers, apparel, personal care and more.
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The company’s income was ₹6,575.08 crore in FY24, up from ₹5,731.28 crore in FY23. The company reported a loss of ₹321.51 crore in FY24, down from ₹486.06 crore loss reported in FY23.
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The company has been constantly reporting a loss despite an increase in revenue. The company depends on several contract manufacturers and any negative development in this relationship will have an adverse impact on the company.
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The funds raised will be used for the establishment of new modern stores under the ‘BabyHug’ brand, warehouses, investment in subsidiaries, sales and marketing costs and for covering technology costs.
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