FirstCry Shares List At 40% Premium Over IPO Price On Debut

Shares of kids-focused omnichannel retailer FirstCry made a strong debut on the exchanges today (August 13), opening higher than the issue price.

On the NSE, shares of FirstCry’s parent Brainbees Solutions opened at INR 651, at a premium of 40% over its issue price of INR 549. Similarly, on the BSE, it listed at INR 625, reflecting a 34.4% premium.

As of 11:07 AM, the company’s stock was trading at INR 667.05, marking a 43.5% increase from its issue price.

FirstCry has set a price range of INR 440 to INR 465 per equity share for the IPO. At the upper end of the band, Brainbees Solutions intends to raise INR 4,193 Cr. 

At the end of the second day, the IPO was subscribed 30%. According to the BSE data, the public offer received bids for 1.47 Cr shares as against 4.96 Cr shares on offer.

The omnichannel baby and kids marketplace raised INR 1,885.82 Cr from anchor investors at INR 465 per equity share. The startup allotted 4.05 Cr shares to 71 anchor investors. 

The anchor round saw participation from the Government of Singapore, Abu Dhabi Investment Authority (ADIA), Nomura, Fidelity India, Goldman Sachs, State Bank of India (SBI), ICICI Prudential, and HDFC Mutual Fund, among others.

Founded in 2010 by Amitava Saha, Prashant Jadhav, Sanskriti Hattimattur and Supam Maheshwari, FirstCry is an omnichannel consumer brand for kids and baby products with operations across the country. 

FirstCry has raised over $700 Mn in multiple funding rounds, with notable investors including SoftBank, ChrysCapital, and Vertex Ventures, as of July.

Meanwhile, the company also reported a nearly 34% decline in consolidated net loss of INR 321.5 Cr in the financial year 2023-24 (FY24) from INR 486 Cr in the previous fiscal.

However, the startup’s operating revenue increased 15% to INR 6,480.8 Cr during the year under review from INR 5,632.5 Cr in FY23.

FirstCry’s market capitalization stands at over INR 32,000 Cr.

Updated at 12:30 PM