FirstCry, India’s leading online platform for baby and kids products, successfully launched its Initial Public Offering (IPO) on August 6, 2024. The IPO, issued by Brainbees Solutions Ltd., the parent company of FirstCry, aimed to raise a substantial ₹4,193.73 crore.
IPO Details
- Issue Open Date: August 6, 2024
- Issue Close Date: August 8, 2024
- Price Band: ₹440 to ₹465 per share
- Issue Size: ₹4,193.73 crore (Fresh Issue of ₹1,666 crore and Offer for Sale of ₹2,527.73 crore)
- Lot Size: 32 shares
Strong Subscription
The FirstCry IPO garnered significant interest from investors, with the issue subscribed multiple times over its three-day subscription period. The strong response can be attributed to several factors:
- Strong Brand Recognition: FirstCry is a well-established and trusted brand in the Indian market, catering to the growing needs of parents.
- Large Addressable Market: The baby and kids products market in India is vast and growing, offering significant growth opportunities for FirstCry.
- Profitability: The company has demonstrated consistent profitability, which is a key factor for investors.
- Strong Financial Performance: FirstCry has exhibited robust financial performance in recent years, with increasing revenue and profits.
The grey market, an unofficial platform for trading IPO shares before listing, witnessed a strong premium for FirstCry shares, indicating high investor interest and expectations of a strong listing.
Allotment and Listing
The allotment of shares was expected to be finalized on August 9, 2024, with the shares likely to be credited to investor demat accounts on August 12, 2024. The much-awaited listing of FirstCry shares on the BSE and NSE was scheduled for August 13, 2024.
Investors were optimistic about the FirstCry IPO, given the company’s strong market position, growth prospects, and profitability. The strong subscription and grey market premium further fueled investor enthusiasm. However, as with any IPO, the long-term performance of the stock would depend on various factors, including the company’s ability to execute its growth plans, industry trends, and overall market conditions.
