Firstcry's Debut On The Exchange With 40% Premium, Investor's Money Grows 1.4X

FirstCry's operator, Brainbees Solutions, debuted on the stock market with its shares at a 40 per cent premium over their issue price of Rs 465 per share. On Tuesday, August 13, the stock quoted on opening at Rs 651 on the Bombay Stock Exchange (BSE) and Rs 625 on the National Stock Exchange (NSE).

Stock perfomance

The Firstcry's shares opened on the exchange at Rs 625.00 per share. The stock touched a high of 707.05 per share on the National Stock Exchange.

Firstcry stock price | NSE.com

Firstcry financials

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The company's operating revenue increased by 15 per cent to Rs 6,481 crore in FY24, while its losses decreased by 34 per cent to Rs 321 crore in the same period.

Its operating revenue increased to Rs 6,481 crore in FY24 from Rs 2,401 crore in FY22 during the previous three fiscal years. According to the company, in terms of GMV for FY24, it is the biggest multi-channel retailing platform for products for moms, babies, and children.

Company portfolio

Brainbees Solutions Ltd. is the largest fashion-first omni-channel retail platform for baby and kids' products in India, the UAE, and Saudi Arabia.

The company offers a wide range of products, including clothing, toys, diapers, baby gear, and more, catering to the diverse needs of infants, toddlers, and young children.

IPO subscription

At bidding close, the IPO had received 12.2 subscriptions. Qualified Institutional Buyers (QIBs) were even more enthusiastic, subscribing 19.3 times more than retail investors, who only subscribed 2.3 times. The category designated for Non-Institutional Investors (NIIs) received 4.7 subscriptions.

The IPO's proceeds will be put to use for a number of things, such as opening up new, contemporary stores under the 'FirstCry' and 'BabyHug' brands, branching out into foreign markets, investing in data science and technology, and other corporate development projects.

Read Also

FirstCry Parent Brainbees Secures ₹1,886 Crore From Anchor Investors Ahead Of IPO

IPO funds

Through its initial public offering (IPO), which included an offer-for-sale (OFS) of up to 5.44 crore shares and a new share sale of Rs 1,666 crore, the company raised Rs 4,194 crore.