Brainbees Solutions Limited (Firstcry) IPO Details

Brainbees (Firstcry) IPO

About Brainbees Solutions Limited (Firstcry)

Firstcry, operating under Brainbees Solutions Limited, is a prominent retail platform specializing in products for mothers, babies, and children. The company adopts a multi-faceted retail strategy in India, which includes online sales, company-owned modern stores, franchise-owned outlets, and traditional retail distribution. Firstcry’s diverse product range features items from third-party Indian brands, international brands, and its own in-house brands. Utilizing the expertise of its management team, Firstcry supports both Indian and global direct-to-consumer (D2C) brands in expanding their reach across various modern retail channels within the Indian market.

Established in 2010, Brainbees Solutions Limited offers a comprehensive selection of products for mothers, babies, and children through its online platform ‘FirstCry’.

Firstcry aims to be a one-stop destination for parents, providing retail products, content, community engagement, and educational resources. Catering to children from infancy up to 12 years, the company offers a wide array of products, including apparel, footwear, baby gear, nursery items, diapers, toys, and personal care products. The platform hosts over 1.5 million SKUs from more than 7,500 brands across categories such as apparel, toys, books, school supplies, diapers, bath and skincare, nutrition and breastfeeding, health and safety, baby gear, and maternity wear, as of December 31, 2023.

IPO Lists: Click Here to View all the IPO

Brainbees (Firstcry) Market Presence

Firstcry’s strong brand recognition and customer loyalty are highlighted by the success of its house brand, BabyHug, which is reported to be the largest multi-category brand for mother, baby, and kids’ products in India by GMV for the year ending December 2023, according to RedSeer. Other notable house brands include Pine Kids, Cute Walk by BabyHug, and Babyoye.

The RedSeer report also states that Firstcry is the largest specialized online retail platform for maternal, baby, and kids’ products in the UAE by GMV for the year ending December 2023.

For the nine months ending December 31, 2023, and the fiscal years 2023, 2022, and 2021, Brainbees Solutions maintained a network of over 900 contract manufacturers in India and other countries for its house brands, excluding those engaged by Globalbees Brands and its subsidiaries.

As of December 31, 2023, the company employed 3,411 full-time employees and 2,475 contract employees.

Brainbees (Firstcry) IPO Details

The Brainbees Solutions (Firstcry) IPO is a book-built issue totaling Rs 4,193.73 crores, consisting of a fresh issue of 3.58 crore shares aggregating to Rs 1,666.00 crores and an offer for sale of 5.44 crore shares aggregating to Rs 2,527.73 crores.

The IPO opens for subscription on August 6, 2024, and closes on August 8, 2024. We expect to finalize the IPO allotment on August 9, 2024, and schedule the listing on the BSE and NSE for August 13, 2024.

The IPO price band ranges from ₹440 to ₹465 per share. The minimum lot size for an application is 32 shares, requiring a minimum investment of ₹14,880 for retail investors. For sNII, the minimum lot size is 14 lots (448 shares) amounting to ₹208,320, and for bNII, it is 68 lots (2,176 shares) amounting to ₹1,011,840.

Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Pvt Ltd, Bofa Securities India Limited, Jm Financial Limited, and Avendus Capital Pvt Ltd act as the book-running lead managers for the IPO, while Link Intime India Private Ltd serves as the registrar for the issue.

Refer to the Brainbees Solutions (Firstcry) IPO RHP for detailed information.

Brainbees (Firstcry) Financial Information (Restated Consolidated)

Brainbees Solutions Limited saw its revenue grow by 14.72% and its profit after tax (PAT) rise by 33.85% between the financial years ending March 31, 2024, and March 31, 2023.

Brainbees (Firstcry) IPO Timeline

Brainbees Solutions (Firstcry) IPO opens on August 6, 2024, and closes on August 8, 2024.

IPO FAQs