FirstCry's Parent Company BRAINBEES SOLUTIONS LIMITED Announces Its IPO Brainbees Solutions Limited, the registered company of the brand First Cry has proposed to open its initial public offering (IPO) on Tuesday, August 6, 2024. Bid/ Offer Closing Date will be Thursday, August 8, 2024.
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Brainbees Solutions Limited, the registered company of the brand First Cry has proposed to open its initial public offering (IPO) on Tuesday, August 6, 2024. Bid/ Offer Closing Date will be Thursday, August 8, 2024.
The price band of the offer has been fixed from INR 440-465 per equity share. The company has revealed that bids can be made for a minimum of 32 equity shares in multiples of 32 thereafter.
The offer is also comprised of a fresh issue of equity shares totaling 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 will be comprised of up to 46,814,458 Equity Shares of face value INR 2 each by selling shareholders and up to 7,545,275 Equity Shares of face value INR 2 each by individual selling shareholders.
The company also revealed that the offer includes a reservation of equity shares of face value of INR 2 each, which will aggregate up to INR 30 Million for subscription by eligible employees.
The Equity Shares offered through the Red Herring Prospectus (RHP) are proposed to be listed on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE). Brainees has also received in-principle approvals from BSE and NSE.
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.
