Brainbees Solutions Ltd has announced an initial public offering price band at Rs 440-465 a share. The IPO will comprise fresh issuance of Rs 1,666 crore besides an offer for sale of Rs 2,527.72 crore at the upper price band. The total size of the issue is pegged to be at Rs 4,187.72 crore and a market capitalization of around Rs 22,475 crore – ($2.68 billion) upon listing.
The IPO would be open for subscription from August 6 to August 8. Anchor investors can bid August 5. Listing on the stock exchange is likely to happen on August 13. The proceeds are proposed to be used towards new retail stores, warehouses and international expansion initiatives.
FirstCry’s revenue stood at Rs 6,480.86 crore in FY24 as compared to Rs 5,632.54 crore in the previous year. Notwithstanding the steep jump in revenues, the company posted a net loss of Rs 321.51 crore, improving from the Rs 486.01-crore loss in FY23. The company further reported an EBITDA of Rs 70.49 crore, reversing the previous year’s EBITDA loss of Rs 262.90 crore.
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Source: Moneycontrol
News Desk
