As part of its initial public offering, BrainBees Solutions Limited, the parent company of FirstCry, has made shares valued at Rs 1,886 crore (roughly $227 million) available to 71 anchor investors.
According to information obtained from the Bombay Stock Exchange, the board of FirstCry has decided to offer 4,05,55,428 equity shares to its anchor investors at an issue price of Rs 465 per share (upper-band).
Among the major anchor investors in Firstcry’s IPO are SBI, Fidelity, Goldman Sachs, ICICI, HDFC, Kotak, Bajaj Allianz, Steadview, Morgan Stanley, and Max Life.
From August 6 to August 8, FirstCry will begin its public offering. The price range for the offering is Rs 440–465, and a minimum bid quantity of 32 shares is required.
SoftBank held the largest share of 25.53% in FirstCry prior to the anchor investment round, followed by Mahindra & Mahindra with a 10.97% stake and Premji Invest with a 10.36% stake. While the entire ESOP pool made up 8.4% of the cap table, the company’s founder, Supam Maheshwari, owns 6% of the business.
FirstCry’s growth in the most recent fiscal year was modest, but it reduced its losses by more than one-third. With an improved EBITDA margin in the most recent fiscal year (FY24), its operating revenue climbed by 15% to Rs 6,481 crore, while its losses decreased by 34% to Rs 321 crore.
According to FirstCry’s DRHP, the company operated 1,018 physical stores across the nation, 632 of which were franchised and remained company-owned through the end of the most recent calendar year (2023).
