FirstCry IPO

Brainbees Solutions Ltd, the parent company of e-commerce platform FirstCry, is set to launch its initial public offering (IPO) on August 6, with the three-day bidding closing on August 8. The IPO will consist of a fresh issue of shares worth Rs 1,666 crore and an offer for sale (OFS) of up to 5.44 crore shares from existing shareholders, including Softbank and Mahindra & Mahindra. The bidding for the anchor portion will open on August 5. Notably, Softbank holds a 25.55% stake and M&M has a 10.98% stake in the company. FirstCry, established in 2010, is recognized as India's largest retailer for mothers', babies', and kids' products, having expanded internationally into the UAE and KSA. The price band for the IPO is expected to be announced shortly.