As of June 30, 2023, Firstcry offers over one million SKUs from over 6,800 brands, including renowned third-party Indian brands, foreign brands, and their own home brands.
- SUMMARY
- The parent company of FirstCry files a DRHP with Sebi in order to conduct an IPO.
- OFS of 5.44 crore shares; M&M, Ratan Tata to sell stake.
- The IPO includes a new share sale of Rs 1,816 crore.
Brainbees Solutions Ltd., FirstCry.com’s parent company, has filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi) in preparation for its initial public offering (IPO). Firstcry is India’s leading multichannel retailer of mothers, babies, and children’s supplies.
According to DRHP, the initial public offering (IPO) would consist of a fresh issue of equity shares worth up to Rs 1,816 crore and an offer-for-sale (OFS) of up to 5,43,91,592 equity shares by the company’s corporate selling shareholders.
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PI Opportunities Fund-I, TPG Growth V SF Markets, NewQuest Asia Investments III, Apricot Investments, Valiant Mauritius Partners FDI, TIMF Holdings (Mauritius), Think India Opportunities Master Fund LP (Cayman), Schroders Capital Private Equity Asia Mauritius II The net proceeds of the offering will be used to fund the costs of establishing new modern stores, a warehouse, and lease payments for our existing modern stores in India, as well as funding the investment in its subsidiary, FirstCry Trading, for overseas expansion in the Kingdom of Saudi Arabia, inorganic growth, and other strategic initiatives.
The FirstCry platform, which addresses parental requirements through commerce, information, community participation, and education, was launched in India in 2010. The company sells products in a variety of areas, including garments, footwear, baby gear, nursery, diapers, toys, and personal care. FirstCry’s online platform, which is available via the mobile app and website, includes FirstCry modern stores, which include franchisee-owned and franchisee-operated stores, company-owned and company-operated modern stores, and general trade retail distribution.
They provide approximately one million SKUs from over 6,800 brands as of June 30, 2023, including prominent third-party Indian brands, foreign brands, and their own home brands. In India, the FirstCry mobile application has been downloaded over 104 million times. As of June 30, 2023, they had a network of 936 FirstCry and BabyHug contemporary stores in 465 cities across India, in 27 states and four union territories, with approximately 1.76 million square feet of retail space.
The company has reserved 75% of the equity shares for qualified institutional bidders, while non-institutional investors would receive 15% of the IPO allocation. The remaining 10% of the equity shares will be reserved for individual investors upon issuance. The issue’s book-running lead managers are Kotak Mahindra Capital Company, Morgan Stanley India Company, BofA Securities India, JM Financial, and Avendus Capital. The company’s shares will be listed on both the BSE and the NSE.
Frequently asked question
What brands are BrainBees Solutions Pvt. Ltd.?
Ltd. We are Asia’s largest online baby and kid product portal. We have over 70000 goods from 400+ major international and Indian brands such as Mattel, Ben10, Pigeon, Funskool, Hotwheels, Nuby, Farlin, Medela, Pampers, Disney, Barbie, Gerber, Fisher Price, Mee Mee, and many more.
Does Mahindra own FirstCry?
History. FirstCry paid 362 crore (US$53.87 million) in 2016 to acquire BabyOye, which was owned by the Mahindra Group. The united organization operated as FirstCry.com, a FirstCry Mahindra Venture.
Is FirstCry listed in the stock market?
FirstCry may also contemplate a private issue of shares to certain investors for up to 363.20 crore, according to the DRHP. Firstcry has not yet declared the opening and closing dates for the IPO subscription in its DRHP, but various media reports say that the public offering would begin in early 2024.
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