FirstCry IPO listing price prediction: Shares of Brainbees Solutions (FirstCry), whose allotment for the initial public offering (IPO) was done on Friday, are scheduled to make their debut on the BSE and NSE on Tuesday, August 8, 2024. The grey market premium (GMP) of FirstCry’s IPO continues to remain high, indicating a strong listing.
The FirstCry IPO, which was available at a price band of Rs 440-465, received a decent response from investors, getting subscribed 12.22 times on the final day of subscription. The company had fixed Rs 465 as the issue price. The Qualified Institutional Buyers (QIB) category received the highest bids at 19.30 times, followed by 4.68 times in the Non-Institutional Investors (NII) category, and 2.31 times in the retail category.
FirstCry IPO GMP, expected listing price
FirstCry shares are trading at a premium of nearly Rs 86 or 18.49 per cent on Monday, which is nearly triple the GMP of Rs 32 or 6.88 per cent that the shares commanded on the IPO opening date of August 6, 2024.
If the FirstCry IPO GMP trend sustains at this level, the company’s shares are likely to list at a premium of over 18 per cent on the bourses. Taking into account the latest GMP, shares of FirstCry may list around Rs 551 (GMP + Issue Price) on the BSE and NSE.
FirstCry IPO details
The FirstCry IPO is a book-built issue of Rs 4,193.73 crores, comprising a fresh issue of 35,827,957 shares worth nearly Rs 1,666 crore and an Offer for Sale (OFS) of 54,359,733 shares with a face value of Rs 2, aggregating up to Rs 2,527.73 crore. The FirstCry IPO was available with a lot size of 32 shares for investors. The company raised Rs 1,885.83 crore from anchor investors on August 5.
About Brainbees Solutions (FirstCry)
Brainbees Solutions is India’s largest multi-channel retailing platform for Mothers’, Babies’, and Kids’ products, in terms of GMV, for FY2024, with a growing presence in select international markets. Incorporated in 2010 as Brainbees Solutions Pvt. Ltd in Pune, Maharashtra, the company subsequently changed its name to Brainbees Solutions Ltd in 2023 upon conversion into a public limited company.
First Published: Aug 12 2024 | 2:31 PM IST
