Mumbai: Baby products aggregator and retailer FirstCry's promoter Brainbees Solutions announced Rs 4,187 crore IPO in the price band of Rs 440 to Rs465 per equity share of Rs 2 face value. The public issue opens on August 6 and closed on August 8,2024.FirstCry's IPO comprises of a fresh issue of equity shares aggregating to Rs 1666 crore and an offer for sale of over 5.43 crore equity shares by corporate investor selling shareholders - Japanese multinational investment holding company SoftBank, Mahindra & Mahindra, Schroders Capital and TPG and individual selling shareholders.
Set up in 2010 FirstCry has expanded to United Arab Emirates in 2019 and Saudi Arabia in 2022, the company offers baby and child products from third party Indian brands, global brands and home brands.
The company intends to use the proceeds of the fresh issue towards setting up new modern stores under the "Babyhug" brand, setting up warehouse, setting up warehouses in Saudi Arabia, sales and marketing initiatives, funding inorganic growth and general corporate purposes.
