iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Brainbees (FirstCry Parent) IPO in Sight: Key Investors List Shares for Sale

29 Dec 2023 , 11:50 AM

Ratan Tata, who initially injected Rs 66 lakh for a 0.02% stake in FirstCry, is slated to divest all 77,900 shares at an average share cost of Rs 84.72, as outlined in the draft red herring prospectus submitted to SEBI on Thursday. Brainbees, the parent entity of the online retail platform, plans to issue new shares totaling Rs 1,816 crore, while existing stakeholders will release 54.39 million shares through an Offer for Sale (OFS), according to the DRHP.

Noteworthy participants in the OFS include SoftBank’s SVF Frog (Cayman) divesting 20.3 million shares, Mahindra & Mahindra with 2.8 million shares, PI Opportunities Fund-1 with 8.6 million shares, TPG Growth V SF Markets Pte. with 3.9 million shares, and NewQuest Asia Investments with 3 million shares. Additional sellers encompass Apricot Investments (2.5 million shares), Valiant Mauritius Partners (2.4 million shares), TIMF Holdings (Mauritius) with 8.37 million shares, Think India Opportunities (8.37 million shares), and Schroders Capital with 6.16 million shares. Co-founder Supam Maheshwari is also among individual shareholders partaking in the share disposal.

The deployment of IPO proceeds by FirstCry is planned as follows:

  1. Expenditure for:
    • Establishing new stores and warehouses
    • Lease payments for identified existing stores in India
  2. Investment in subsidiary, FirstCry Trading, for global expansion by:
    • Establishing new warehouses and stores in Saudi Arabia
  3. Investment in Globalbees Brands to acquire an additional stake in indirect subsidiaries.
  4. Initiatives in sales and marketing
  5. Covering technology and data science costs, including expenses related to cloud and server hosting.
  6. Funding inorganic growth through acquisitions and strategic initiatives, as well as general corporate purposes.
Firstcry

Related Tags

  • Brainbees
  • Brainbees IPO
  • FirstCry
  • FirstCry IPO
  • FirstCry softbank share
  • Ratan Tata Firstcry
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.