FirstCry IPO: Public Issue Subscribed 12.22X On The Final Day Of Bidding

Kids-focussed omnichannel brand FirstCry received decent response on the final day of its  IPO as qualified institutional buyers (QIBs) formed a beeline for the issue. 

At the end of the final day, the IPO was oversubscribed 12.22X, with investors cumulatively bidding for 60.64 Cr shares versus 4.96 Cr shares on offer. 

On the last day, QIB interest zoomed and the investors bid for 52.19 Cr shares against the 2.70 Cr shares reserved for them. This translated to a subscription of 19.30X.

Meanwhile, the portion reserved for employees saw the second-highest subscription, receiving bids for 4.68 Lakh shares against 71.2K shares on offer. This translated to a 6.57X subscription for the employee quota.

Meanwhile, non-institutional investors (NIIs) raised bids for 6.32 Cr shares versus 1.35 Cr shares reserved for them, translating to an oversubscription of 4.68X.

Retail investors’ quota was subscribed 2.31X. The investors bid for 2.08 Cr shares as against the 90.12 Lakh shares reserved for them. 

It is pertinent to note that the investor response towards the startup’s IPO remained muted in the first two days. While the public issue was subscribed 11% on day 1, it was subscribed 30% on day 2. 

The startup’s IPO comprised a fresh issue of shares worth up to INR 1,666 Cr and an offer-for-sale (OFS) component of up to 5.4 Cr equity shares worth up to INR 2,527 Cr. It set a price band of INR 440 to INR 465 per equity share for the IPO. 

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.