Get All Access for $5/mo

Brainbees Solutions Limited raises INR 1885.8 Cr and Allots Shares Ahead of IPO Brainbees Solutions Limited, the company behind the online shopping platform FirstCry has announced that it has raised INR 1885.8 crore from 71 anchor investors and allotted 4,05,55,428 Equity Shares for the same

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Brainbees Solutions Limited

Brainbees Solutions Limited, the company behind the online shopping platform FirstCry has announced that it has raised INR 1885.8 crore from 71 anchor investors and allotted 4,05,55,428 Equity Shares for the same.

The fund was raised at the upper price band of INR 465 per equity share, including a premium of INR 463 per equity share and a face value of each at INR 2.

Braibees' anchor allocation revealed Marquee investors namely SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Government of Singapore, Abu Dhabi Investment Authority, Goldman Sachs Funds, SBI Life Insurance, Fidelity Funds, Nordea Asset Management, Max Life Insurance Company Limited, Nomura Funds, Norges Bank, PSP and Carmignac among others.

Equity Shares of as much as 1,51,60,928 which is 37.38 per cent out of the total allocation of 4,05,55,428 were allocated to 8 mutual funds through 23 schemes.

The Offer comprises a Fresh Issue of equity shares aggregating up to INR 16,660 million and an offer for sale (OFS) of up to 54,359,733 equity shares of face value INR 2. The OFS is comprised of up to 46,814,458 Equity Shares of face value INR 2 each by corporate selling shareholders and up to 7,545,275 Equity Shares of face value INR 2 each by individual selling shareholders.

The offer also includes a reservation of certain equity shares with a face value of INR 2 each, which aggregates up to a total of INR 30 million for subscription by eligible employees via the 'Employee Reservation Portion'.

Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, JM Financial Limited, and Avendus Capital Private Limited are the book-running lead managers (BRLMs) to the Offer.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.
Leadership

Visionaries or Vague Promises? Why Companies Fail Without Leaders Who See Beyond the Bottom Line

Visionary leaders turn bold ideas into lasting impact by building resilience, clarity and future-ready teams.

Business News

Former Steve Jobs Intern Says This Is How He Would Have Approached AI

The former intern is now the CEO of AI and data company DataStax.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Science & Technology

5 Automation Strategies Every Small Business Should Follow

It's time we make IT automation work for us: streamline processes, boost efficiency and drive growth with the right tools and strategy.

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

Science & Technology

Why Businesses Are Relying on Automation to Survive the Labor Crisis

Robots are revolutionizing industries by addressing labor shortages and enhancing efficiency, while businesses navigate challenges like workforce adaptation and high implementation costs.