Read on the application
Firstcry IPO: The stock market will soon open for investment in another major company IPO. In fact, Brainbees Solutions Limited, the parent company of e-commerce platform FirstCry, is coming up with an IPO. For this, the company has submitted documents to SEBI. Many veterans own a large stake in this company. Ratan Tata also has an investment in this company. According to a Mint report, Ratan Tata will sell all his 77,900 shares in FirstCry.
These giants also have their share
Let us tell you that according to the documents submitted to SEBI, the IPO will cost Rs. Up to 1,816 crore new equity shares will be issued and 5.44 crore equity shares will be offered for sale (OFS) by the shareholders of the company. . The sellers of shares in the Offer for Sale include Mahindra & Mahindra (M&M), TPG, NewQuest Asia, SVF Frog (Cayman) Ltd, Apricot Investments, Valeant Mauritius, TIMF, Think India Opportunities Fund, Schroders Capital and PI Opportunities. According to the DRHP filing, while automobile maker M&M will sell 0.58 percent stake or 2.8 lakh shares in Brainbees Solutions, SoftBank will sell 2.03 crore shares in a bid to reduce its stake in the e-commerce major.
Also Read- There was a rush to buy the cheap shares, after the deal with the Gujarat government, the price rose 20%, to ₹136.
Company business
The company will use the money raised from the IPO to open new stores and warehouses in India as well as in Saudi Arabia. Apart from this, the amount collected will be used for marketing initiatives. However, the share price details are yet to be disclosed. Let us tell you that Firstcry sells products related to mothers and babies.