Brainbee Solutions IPO Opens To Raise Over Rs 4,000 Cr
The IPO opens on 06 August and scheduled to close on 08 August followed by the allotment on 09 August
The initial public offering (IPO) of Brainbee Solutions opened on 06 August to invite subscription from the public market to raise over Rs 4,000 crore.
The Rs 4,193.73 crore IPO consisted of fresh issues of up to Rs 1,666 crore and an offer-for-sale (OFS) worth Rs 2,527.73 crore by promoter and investor selling shareholders.
The price band of the offer has been fixed from Rs 440 per equity share to Rs 465 per equity share. Bids can be made for a minimum of 32 equity shares and in multiples of 32 equity shares thereafter. The minimum capital required for the one lot is Rs 14,880.
The IPO opened on 06 August and scheduled to close on 08 August followed by the allotment on 09 August. Subsequently the IPO will list on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on 13 August.
Kotak Mahindra Capital Company, Morgan Stanley India Company, BofA Securities India, JM Financial and Avendus Capital are the book running lead managers to the Offer.
IPO Objectives
The firm intends to use the net proceeds of Rs 1,666 crore for the establishment of new modern stores under the BabyHug brand and establishment of a warehouse in India.
The net proceeds will also be used towards the expenditure on lease payments for existing identified modern stores owned and operated by the company in India.
Additionally, the firm will also invest in its subsidiaries Digital Age, Firstcry and Globalbees Brands.
Further, the proceeds will finance the inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.
The firm will also get benefits on listing in the public market which will enhance the brand’s visibility and provide liquidity to the shareholders.
Firm’s Financials
The firm registered revenue of Rs 6,575 crore in FY24, compared to Rs 5,731 crore in FY23.
Additionally, the firm’s loss also reduced to Rs 321 crore in FY24 compared to Rs 486 crore in FY23.
Overall, revenue increased by 14.72 per cent, whereas profit after tax (PAT) rose 33.85 per cent.
Analyst Note
(This is a developing story, please refresh for further updates).
