Get All Access for $5/mo

FirstCry's Parent Brainbees Files IPO Papers With SEBI The IPO comprises a fresh issue of equity shares aggregating up to ₹18,160 million and an OFS of up to 54,391,592 equity shares by selling shareholders

By S Shanthi

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

Handout

Brainbees Solutions Limited, the parent company of online e-commerce platform FirstCry has filed its Draft Red Herring Prospectus ("DRHP") with market regulator Securities and Exchange Board of India ("SEBI").

The Company's initial public offering comprises a fresh issue of equity shares aggregating up to ₹18,160 million and an offer for sale (OFS) of up to 54,391,592 Equity Shares by selling shareholders.

The OFS comprises of up to 20,318,050 equity shares by SVF Frog (Cayman) Ltd, up to 2,806,174 equity shares by Mahindra & Mahindra Limited, up to 8,601,292 equity shares by PI Opportunities Fund- 1, up to 3,899,525 equity shares by TPG Growth V SF Markets Pte. Ltd., up to 3,014,233 equity shares by NewQuest Asia Investments III Limited, up to 2,523,280 equity shares by Apricot Investments Limited, up to 2,404,344 by Valiant Mauritius Partners FDI Limited, up to 837,676 equity shares by TIMF Holdings (Mauritius), up to 837,676 equity shares by Think India Opportunities Master Fund LP (Cayman) and up to 616,945 equity shares by Schroders Capital Private Equity Asia Mauritius II Limited (Corporate Selling Shareholders).

The Pune-based company proposes to utilize the Net Proceeds of Up to ₹ 18,160.00 million from the offer towards funding the expenditure for setting up new modern stores, a warehouse and lease payments for its existing identified modern stores in India, investment in its subsidiary, FirstCry Trading for overseas expansion by setting up new modern stores and warehouses in the Kingdom of Saudi Arabia ("KSA"), investment in its subsidiary, GlobalBees Brands towards acquisition of additional stake in its indirect subsidiaries, towards sales and marketing initiatives, technology and data science cost including cloud and server hosting related costs, towards funding of inorganic growth through acquisition and other strategic initiatives as well as for general corporate purposes.

The FirstCry platform was launched in India in 2010 with a goal to create a one-stop destination for parenting needs across commerce, content, community engagement, and education, based on brand affinity, loyalty and trust of customers. The multi-channel retailing platform includes FirstCry's online platform accessible through the mobile application and website, FirstCry modern stores comprising franchisee-owned, franchisee-operated modern stores ("FOFO"), company-owned and company-operated modern stores ("COCO") as well as general trade retail distribution.

The company offers products in various categories, including apparel, footwear, baby gear, nursery, diapers, toys and personal care, amongst others. The company said in a statement that as at June 30, 2023, it offers offer more than one million SKUs from over 6,800 brands, including prominent third-party Indian brands, global brands, and their own home brands. As at June 30, 2023, the FirstCry mobile application has been downloaded more than 104 million times in India. Further, they have a network of 936 FirstCry and BabyHug modern stores in 465 cities in 27 states and four union territories across India with over 1.76 million square feet of retail space, as at June 30, 2023.

S Shanthi

Entrepreneur Staff

Former Senior Assistant Editor

Shanthi specializes in writing sector-specific trends, interviews and startup profiles. She has worked as a feature writer for over a decade in several print and digital media companies. 

 

Side Hustle

The Side Hustle She Started in a High School Locker Room Hit Multimillion-Dollar Revenue — and Taylor Swift Is a Fan: 'Invest in Yourself'

Elena Bonvicini, now 25, was inspired to start her side hustle during a 2016 visit to her grandparents in Wisconsin.

Technology

Semiconductor companies partner with academia to bridge skills gap

The semiconductor industry in India is expected to face a shortage of 250,000 to 300,000 professionals across various verticals, including research and development (R&D), manufacturing, design, and advanced packaging, by 2027, according to a report by TeamLease Degree Apprenticeship

Business News

Intel Held Days of Pivotal Meetings to Create a Plan to Turn Things Around: 'No Shortage of Rumors and Speculation'

Intel CEO Pat Gelsinger sent a message to employees on Monday with a plan for a path forward after meeting with the board for three days last week.

Leadership

This Conversation Hack Made Me a Millionaire — Here's How It Works

I've turned countless encounters into winning opportunities. Follow this advice to do the same.

Technology

Lenovo begins AI server manufacturing in India, launches infrastructure R&D Lab

AI sever manufacturing and the infrastructure R&D lab is part of Lenovo's commitment to invest $1 billion in AI innovation over 2023-26

Science & Technology

Why Cybersecurity is the Key to Unlocking the Full Potential of Supply Chains

While supply chains' interconnectedness offers advantages, it also makes them vulnerable to various cyber threats. Organizations must prioritize strong security measures to safeguard their operations.