FirstCry Parent, Brainbees Solutions, Makes Strong Listing Debut, Check Share Price Here

The parent company of FirstCry made a strong debut in the markets with the firm’s shares listing at Rs 651 on the NSE, marking a premium of 40 per cent over the listing price

During trading, the firm’s shares hit a peak of Rs 707 apiece on both exchanges. (Image Source: FirstCry)

Source : FirstCry

Brainbees Solutions Ltd entered the stock market on August 13 with a robust listing. The parent company of FirstCry saw a strong debut in the markets with the firm’s shares listing at a premium of 40 per cent.

The firm began trading on its maiden day in the market at Rs 651 on the NSE. This stood much higher than the IPO price of the company at Rs 465 apiece, reported Moneycontrol. However on the BSE, the stock opened trading at Rs 625 per share. 

During trading, the firm’s shares hit a peak of Rs 707 apiece on both exchanges. As of 2:08 PM, the company’s stock price touched Rs 682.85 on the BSE, climbing more than 9 per cent in the day. 

Notably, the firm’s maiden offer included a fresh issue of 3.6 crore shares worth Rs 1,666 crore, along with an offer-for-sale of 5.4 shares coming up to Rs 2,527.7 crore. The IPO was worth Rs 4,193.7 crore. The offering was priced in the range of Rs 440 and Rs 465 per share.

The firm accepted bids for the offer from August 6-8, 2024. The issue was subscribed 12.2 times, wherein qualified institutional buyers (QIBs) expressed their preference for the offering and bid 19.3 times their reserved quota. The listing was subscribed 4.7 times by Non-Institutional Investors (NIIs) and 2.3 times by retail investors.

A day before the listing opened for the public, the firm raised Rs 1,885.8 crore from anchor investors. Formed in 2010, the firm deals with a variety of products for mothers, babies, and kids via its FirstCry brand.

The company intends to utilise the funds from the issue towards several purposes such as expanding the presence of ‘BabyHug’ and ‘FirstCry’ brands via offline stores, investment in technology and data science, and other corporate growth initiatives. The firm also plans to make its mark in the global markets.