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Brainbees Solutions (Firstcry) IPO is a book-built issue of Rs 4,193.73 crores. The issue is a combination 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. The price band for the IPO is set at ₹440 to ₹465 per share. The minimum lot size for an application is 32 Shares.
Company Summary
Founded in 2010, Brainbees Solutions Limited offers products for mothers, babies, and Kids via its online platform ‘FirstCry’. Brainbees Solutions (Firstcry)’s mission is to create a one-stop store for parents’ retail, content, community engagement, and education needs.
Brainbees Solutions (Firstcry)’s strong brand awareness and customer trust are reflected in the launch of BabyHug, one of Brainbees Solutions (Firstcry)’s house brands. According to a RedSeer report, this is the largest multi-category brand for mother, baby, and kids products in India, regarding GMV, for the year ending December 2023. Its other key house brands include Pine Kids, Cute Walk by BabyHug, and Babyoye.
For the nine months ended December 31, 2023, and the financial years 2023, 2022, and 2021, the Company had a network of more than 900 contract manufacturers in India and other countries for its house brands, excluding contract manufacturers engaged by Globalbees Brands and its subsidiaries.
As of December 31, 2023, the company employed 3,411 full-time employees and 2,475 employees on a contract basis.
Company Strengths
Their GMV increased to ₹91,211.28 million in the Financial Year 2024 from ₹72,576.34 million in the Financial Year 2023 and ₹57,994.63 million in the Financial Year 2022.
Their FirstCry mobile application in India had been downloaded more than 127 million times, 97 million times, and 70 million times as of March 31, 2024, 2023, and 2022, respectively.
They have a network of 1,063 FirstCry and BabyHug modern stores in 533 cities in 28 states and five union territories across India with over 2.12 million square feet of retail space, as of March 31, 2024.
In Financial Years 2024, 2023, and 2022, their revenue from operations was ₹64,808.56 million, ₹56,325.39 million, and ₹24,012.88 million, respectively.
Company Financials
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 7,510.38 | 7,119.83 | 6,197.16 |
| Revenue | 6,575.08 | 5,731.28 | 2,516.92 |
| Profit After Tax | -321.51 | -486.06 | -78.69 |
| Net Worth | 3,170.74 | 3,456.26 | 3,527.94 |
| Reserves and Surplus | 3,081.74 | 3,367.21 | 3,439.17 |
| Total Borrowing | 462.72 | 176.47 | 90.16 |
Amount in ₹ Crore | |||
Objectives of the IPO
The Company proposes to utilize the net proceeds to finance the following purposes:
- Expenses of the Company for (I) establishment of new modern stores under the “BabyHug” brand; and (II) establishment of a warehouse in India
- Expenditure on lease payments for existing identified modern stores owned and operated by the Company in India
- Investments in its Subsidiary Digital Age for
- setting up new modern stores under the FirstCry brand and other house brands of the Company
- Lease payments for the existing identified modern stores owned and controlled by the Digital Age in India.
- Investment in Subsidiary FirstCry Trading for overseas expansion by:
(I) establishment of new modern stores.
(II) establishment of warehouses in KSA.
- Investment in Subsidiary Globalbees Brands for the acquisition of an additional stake in its Subsidiaries
- Sales and marketing initiatives.
- Technology and data science costs, including cloud and server hosting costs.
- Financing of inorganic growth through acquisitions and other strategic initiatives and general corporate purposes
IPO details
| IPO Date | August 6, 2024 to August 8, 2024 |
| Listing Date | Tuesday, August 13, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹440 to ₹465 per share |
| Lot Size | 32 Shares |
| Total Issue Size | 90,187,690 shares (aggregating up to ₹4,193.73 Cr) |
| Fresh Issue | 35,827,957 shares (aggregating up to ₹1,666.00 Cr) |
| Offer for Sale | 54,359,733 shares of ₹2 (aggregating up to ₹2,527.73 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 32 | ₹14,880 |
| Retail (Max) | 13 | 416 | ₹193,440 |
| S-HNI (Min) | 14 | 448 | ₹208,320 |
| S-HNI (Max) | 67 | 2,144 | ₹996,960 |
| B-HNI (Min) | 68 | 2,176 | ₹1,011,840 |
Allotment Schedule
| Basis of Allotment | Friday, August 9, 2024 |
| Initiation of Refunds | Monday, August 12, 2024 |
| The Credit of Shares to Demat | Monday, August 12, 2024 |
| Listing Date | Tuesday, August 13, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 8, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | 75.00% of the Net offer |
| Retail Shares Offered | Not more than 10.00% of the Offer |
| NII (HNI) Shares Offered | Not more than 15.00% of the Offer |
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