Brainbees Solutions Limited raises INR 1885.8 Cr and Allots Shares Ahead of IPO Brainbees Solutions Limited, the company behind the online shopping platform FirstCry has announced that it has raised INR 1885.8 crore from 71 anchor investors and allotted 4,05,55,428 Equity Shares for the same
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Brainbees Solutions Limited, the company behind the online shopping platform FirstCry has announced that it has raised INR 1885.8 crore from 71 anchor investors and allotted 4,05,55,428 Equity Shares for the same.
The fund was raised at the upper price band of INR 465 per equity share, including a premium of INR 463 per equity share and a face value of each at INR 2.
Braibees' anchor allocation revealed Marquee investors namely SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Government of Singapore, Abu Dhabi Investment Authority, Goldman Sachs Funds, SBI Life Insurance, Fidelity Funds, Nordea Asset Management, Max Life Insurance Company Limited, Nomura Funds, Norges Bank, PSP and Carmignac among others.
Equity Shares of as much as 1,51,60,928 which is 37.38 per cent out of the total allocation of 4,05,55,428 were allocated to 8 mutual funds through 23 schemes.
The Offer comprises a Fresh Issue of equity shares aggregating up to INR 16,660 million and an offer for sale (OFS) of up to 54,359,733 equity shares of face value INR 2. The OFS is comprised of up to 46,814,458 Equity Shares of face value INR 2 each by corporate selling shareholders and up to 7,545,275 Equity Shares of face value INR 2 each by individual selling shareholders.
The offer also includes a reservation of certain equity shares with a face value of INR 2 each, which aggregates up to a total of INR 30 million for subscription by eligible employees via the 'Employee Reservation Portion'.
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 (BRLMs) to the Offer.
