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Firstcry's parent company Brainbees Solution receives Sebi's nod for IPO
Brainbees Solution IPO comprises fresh issue of equity shares aggregating up to Rs 1816 crore and an offer for sale aggregating up to 5.43 crore equity shares by selling shareholders.
Sebi gives green light for Firstcry's parent company Brainbees Solution IPO
Brainbees Solutions Limited, the parent company of retailing platform FirstCry.com on Monday received the Securities and Exchange Board of India (SEBI) approval for its proposed initial public offering (IPO). The company’s IPO comprises fresh issue of equity shares aggregating up to Rs 1816 crore and an offer for sale aggregating up to 5.43 crore equity shares by selling shareholders. According to Brainbees Solution, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, JM Financial Limited, and Avendus Capital Private Limited are the Book Running Lead Managers to the issue.
Earlier in May, the Pune-based company had re-filed the Draft Red Herring Prospectus (DRHP) after Sebi raised questions on key performance metrics. The market regulator had cited insufficient disclosure of key performance indicators (KPIs).
Softbank holds a 25.55% stake in Brainbees Solutions, and M&M owns a 10.98% stake in the platform.
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