Bookbuilding IPO | ₹4,194 Cr | Listed at BSE, NSE | Tue, Aug 6, 2024 - Thu, Aug 8, 2024
Brainbees Solutions IPO is a book build issue of ₹4,193.73 crores. The issue is a combination of fresh issue of 3.58 crore shares aggregating to ₹1,666.19 crores and offer for sale of 5.44 crore shares aggregating to ₹2,527.54 crores.
Brainbees Solutions IPO bidding started from Aug 6, 2024 and ended on Aug 8, 2024. The allotment for Brainbees Solutions IPO was finalized on Aug 9, 2024. The shares got listed on BSE, NSE on Aug 13, 2024.
Brainbees Solutions IPO price band is set at ₹465 per share. The lot size for an application is 32. The minimum amount of investment required by an retail is ₹14,880 (32 shares) (based on upper price). The lot size investment for sNII is 14 lots (448 shares), amounting to ₹2,08,320, and for bNII, it is 68 lots (2,176 shares), amounting to ₹10,11,840.
The issue includes a reservation of up to 71,258 shares for employees offered at a discount of ₹44.00 to the issue price.
Kotak Mahindra Capital Co.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Brainbees Solutions IPO RHP for detailed Information.
IPO Open
Tue, Aug 6, 2024
IPO Close
Thu, Aug 8, 2024
Issue Price
₹465 per share
Market Cap (Pre-IPO)
₹24,141.75 Cr
| IPO Date | 6 to 8 Aug, 2024 |
| Listed on | Tue, Aug 13, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹440 to ₹465 |
| Issue Price | ₹465 per share |
| Lot Size | 32 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹44.00 |
| Total Issue Size | 9,01,94,432 shares (agg. up to ₹4,194 Cr) |
| Fresh Issue | 3,58,34,699 shares (agg. up to ₹1,666 Cr) |
| Offer for Sale | 5,43,59,733 shares of ₹2 (agg. up to ₹2,528 Cr) |
| Share Holding Pre Issue | 48,33,49,470 shares |
| Share Holding Post Issue | 51,91,77,427 shares |
| BSE Script Code / NSE Symbol | 544226 / FIRSTCRY |
| ISIN | INE02RE01045 |
Brainbees Solutions IPO offers total 9,01,94,432 shares. Out of which 6,75,92,381 (74.94%) allocated to QIB, 2,70,36,953 (29.98%) allocated to QIB (Ex- Anchor), 1,35,18,476 (14.99%) allocated to NII 90,12,317 (9.99%) allocated to RII and 4,05,55,428 (44.96%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 6,75,92,381 (74.94%) | NA |
| − Anchor Investor Shares Offered | 4,05,55,428 (44.96%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 2,70,36,953 (29.98%) | NA |
| NII (HNI) Shares Offered | 1,35,18,476 (14.99%) | NA |
| − bNII > ₹10L | 90,12,318 (9.99%) | 20,116 |
| − sNII < ₹10L | 45,06,158 (5.00%) | 10,058 |
| Retail Shares Offered | 90,12,317 (9.99%) | 2,81,634 |
| Employee Shares Offered | 71,258 (0.08%) | NA |
| Total Shares Offered | 9,01,94,432 (100.00%) |
Investors can bid for a minimum of 32 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 32 | ₹14,880 |
| Retail (Max) | 13 | 416 | ₹1,93,440 |
| S-HNI (Min) | 14 | 448 | ₹2,08,320 |
| S-HNI (Max) | 67 | 2,144 | ₹9,96,960 |
| B-HNI (Min) | 68 | 2,176 | ₹10,11,840 |
Brainbees Solutions IPO raises ₹1,885.83 crore from anchor investors. Brainbees Solutions IPO Anchor bid date is August 5, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Aug 5, 2024 |
| Shares Offered | 4,05,55,428 |
| Anchor Portion (₹ Cr.) | 1,885.83 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Sep 8, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Nov 7, 2024 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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. The company offers everything needed for an infant up to the age of 12, including apparel, footwear, baby gear, nursery, diapers, toys, and personal care, amongst others. The company offers products from Indian third-party brands, global brands, and its own brands. The company has an extensive offering for mothers, babies, and Kids with more than 1.5 million SKUs from more than 7,500 brands on its multi-channel platform across categories including apparel and fashion, toys, books, school supplies, diapers, bath and skincare, nutrition and breastfeeding, health and safety, baby gear and maternity wear (as of December 31, 2023).
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.
According to a report by RedSeer Report, Brainbees Solutions (Firstcry) is the largest specialized online retail platform for maternal, baby, and Kids' products in the UAE, in terms of GMV, for the year ending December 2023.
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.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 7,510.38 | 7,119.83 | 6,197.16 |
| Total Income | 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 | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Setting up new modern stores under the ‘BabyHug’ brand | 93.90 |
| 2 | Setting up a warehouse | 14.20 |
| 3 | Expenditure for lease payments for our existing identified modern stores owned and operated by our Company, in India | 93.10 |
| 4 | Setting up new modern stores under the FirstCry brand and other home brands of our Company | 169.00 |
| 5 | Lease payments for our existing identified modern stores owned and controlled by Digital Age in India | 130.60 |
| 6 | Investment in our Subsidiary, FirstCry Trading for overseas expansion by: (i) setting up new modern stores; and (ii) setting up warehouse(s), in KSA | 155.60 |
| 7 | Investment in our Subsidiary, Globalbees Brands towards acquisition of additional stake in our step-down Subsidiaries | 169.00 |
| 8 | Sales and marketing initiatives | 200.00 |
| 9 | Technology and data science cost including cloud and server hosting related costs | 57.60 |
| 10 | Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes# | 518.74 |
| KPI | Mar 31, 2024 |
|---|---|
| RoNW | -8.65% |
| Price to Book Value | 6.49 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | -6.65 | -ve |
| P/E (x) | -69.91 | -ve |
| Market Cap | ₹24,141.75 Cr. |
The Brainbees Solutions (Firstcry) IPO is subscribed 12.22 times on August 8, 2024 6:19:08 PM (Day 3). The public issue subscribed 2.31 times in the retail category, 19.3 times in the QIB category, and 4.68 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 19.3 | 2,70,36,953 | 52,19,04,896 |
| NII | 4.68 | 1,35,18,476 | 6,32,38,304 |
| bNII (bids above ₹10L) | 5.32 | 90,12,318 | 4,79,78,944 |
| sNII (bids below ₹10L) | 3.39 | 45,06,158 | 1,52,59,360 |
| Retail | 2.31 | 90,12,317 | 2,08,16,224 |
| Employee | 6.57 | 71,258 | 4,68,000 |
| Total | 12.22 | 4,96,39,004 | 60,64,27,424 |
Total Application : 5,73,431
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs’ fees and commissions (including underwriting commission) | 96.37 |
| 2 | Brokerage, selling commission, bidding charges, processing fees and bidding charges for the Members of the Syndicate, Registered Brokers, SCSBs, RTAs and CDPs | 3.93 |
| 3 | Fees payable to the Registrar to the Offer | 0.11 |
| 4 | Listing fees, SEBI filing fees, BSE & NSE processing fees, book building software fees | 16.33 |
| 5 | Other regulatory expenses | 1.51 |
| 6 | Printing and stationery expenses | 1.97 |
| 7 | Fees payable to the legal counsels | 15.30 |
| 8 | Advertising and marketing expenses for the Offer | 7.78 |
| 9 | Fees payable to other parties to the Offer including but not limited to the Statutory Auditors, independent chartered accountants, industry report provider and Monitoring Agency | 18.88 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹465.00 | ₹465.00 |
| Open | ₹625.00 | ₹651.00 |
| Low | ₹625.00 | ₹640.00 |
| High | ₹707.05 | ₹707.70 |
| Last Trade | ₹678.25 | ₹679.10 |
Brainbees Solutions IPO is a main-board IPO of 9,01,94,432 equity shares of the face value of ₹2 aggregating up to ₹4,194 Crores. The issue is priced at ₹465 per share. The minimum order quantity is 32.
The IPO opens on Tue, Aug 6, 2024, and closes on Thu, Aug 8, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Brainbees Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in Brainbees Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Brainbees Solutions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Brainbees Solutions IPO opens on Tue, Aug 6, 2024 and closes on Thu, Aug 8, 2024.
Brainbees Solutions IPO lot size is 32, and the minimum amount required for application is ₹14,880.
You can apply in Brainbees Solutions IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Brainbees Solutions IPO will be done on Friday, August 9, 2024, and the allotted shares will be credited to your demat account by Mon, Aug 12, 2024. Check the Brainbees Solutions IPO allotment status.
The Brainbees Solutions IPO listing date is on Tue, Aug 13, 2024.
