FirstCry’s IPO To Open On Coming Tuesday

Price Band fixed at Rs 440 per Equity Share to Rs 465 per Equity Share of face value of Rs2 each of Brainbees Solutions; The Floor Price is 220 times and the Cap Price is 232.5 times the face value of the Equity Shares

(L-R) Debasish Purohit, Bofa Securities India; Kamal Yadav, Morgan Stanley India Company; Gautam Sharma (Chief Financial Officer, Brainbees Solutions- Firstcry); Supam Maheshwari, (MD & CEO, Brainbees Solutions - FirstCry); Jayasankar Venkatraman, Kotak Mahindra Capital Company; Pranay Jain, Avendus Capital and Abhishek Bhagat, JM Financial at the IPO press conference of Brainbees Solutions (FirstCry) on Thursday in Mumbai

Supam Maheshwari, MD & CEO, Brainbees Solutions - FirstCry

FinTech BizNews Service 

Mumbai, August 01, 2024: Brainbees Solutions Limited (the “Company”) proposes to open its initial public offering (“Offer”) on Tuesday, August 6, 2024. Bid/ Offer Closing Date will be Thursday, August 8, 2024. Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, that is, Monday, August 5, 2024. The Price Band of the Offer has been fixed from Rs440 per Equity Share to Rs465 per Equity Share. Bids can be made for a minimum of 32 Equity Shares and in multiples of 32 Equity Shares thereafter. The Offer comprises of a Fresh Issue of equity shares aggregating up to Rs 16,660.00 million (the “Fresh Issue”) and an offer for sale of up to 54,359,733 equity shares of face value Rs 2 (the “Offer for Sale”). The Offer for Sale comprises of up to 46,814,458 Equity Shares of face value Rs 2 each by corporate selling shareholders and up to 7,545,275 Equity Shares of face value Rs 2 each by individual selling shareholders. 

The Offer includes a reservation of certain equity shares of face value of Rs 2 each, aggregating up to Rs 30.00 million for subscription by eligible employees (“Employee Reservation Portion”). The offer less the Employee Reservation Portion is hereinafter referred to as the “Net Offer”. The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”). The company has received in-principle approvals from BSE and NSE for the listing of the Equity Shares pursuant to their letters, each dated May 16, 2024. Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, JM Financial Limited and Avendus Capital Private Limited are the book running lead managers (“Book Running Lead Managers” or “BRLMs”) to the Offer.