Brainbees Solutions Ltd, which operates FirstCry, a leading omnichannel kidswear brand, has announced a price band of ₹440-465 per share for its upcoming initial public offering (IPO). The IPO will open on August 6, with anchor bidding starting on August 5, and will close on August 8. Allotments will be finalized on August 9, and refunds and shares will be credited to accounts by August 12, with the listing set for August 13.
The IPO includes a fresh issue of ₹1,666 crore, and on the upper price band, the offer for sale (OFS) is valued at ₹2,500 crore, bringing the total issue size to ₹4,160 crore. The company’s total market capitalization is projected at ₹23,894 crore (approximately $2.86 billion).
Initially, FirstCry filed its draft IPO papers with the Securities and Exchange Board of India (SEBI) in December. However, it withdrew them after SEBI requested additional details on key performance indicators (KPIs). Following a refiled submission with improved financial clarity, FirstCry reported a revenue of ₹6,480.86 crore for FY24, up from ₹5,632.54 crore the previous year. The company’s loss decreased to ₹321.51 crore from ₹486.01 crore, and EBITDA improved to ₹70.49 crore from a loss of ₹262.90 crore. The Gross Merchandise Value (GMV) rose to ₹9,121.13 crore from ₹7,257.64 crore.
FirstCry, India’s prominent multi-channel retailer for mother, baby, and kids’ products, operates both online and through company-owned and franchise stores, along with general trade distribution. The company is also expanding into select international markets.
As of FY24, FirstCry manages a combination of franchisee-owned (FOFO) and company-owned (COCO) stores, in addition to general trade distribution. It offers over 1.65 million SKUs from 7,580 brands, including apparel, footwear, and baby gear. The FirstCry app in India has been downloaded more than 127 million times, and the company operates 1,063 FirstCry and BabyHug stores across 533 cities, with a total retail space of 2.12 million square feet.
