FirstCry IPO subscription details on day 2

7 Aug 2024 , 12:00 PM

Brainbees Solutions Limited, the parent company of Firstcry, launched its initial public offering (IPO) in the Indian primary market today. 

The IPO will remain open for subscription until August 8, 2024. The price band for the Firstcry IPO has been set between ₹440 to ₹465 per equity share. The IPO is proposed to be listed on both BSE and NSE. 

At the time of writing on August 7, 2024 at 11:40 am, the Retail Individual Investors (RIIs) are subscribed 0.71 times and Non-Institutional Investors(NIIS) is subscribed 0.13 times. the Employee Reserved portion is subscribed 2.65 times.

Brainbees Solutions aims to raise ₹4,193.73 Crore through this IPO, with ₹1,666 Crore to be raised via the issuance of fresh shares. 

Investors can apply for the IPO in lots, with each lot comprising 32 shares. The allotment of shares is expected to take place on August 9, 2024. Link Intime India Private Limited has been appointed as the official registrar for the IPO. The book build issue is managed by Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India, JM Financial, and Avendus Capital. Following the ‘T+3’ listing rule, the IPO is expected to be listed on the stock exchanges on August 13, 2024.