FirstCry shares list at 40% premium over IPO price

Ahead of the issue opening, the company raised ₹1886 crore from 71 anchor investors including SBI Mutual Fund, ICICI Prudential Mutual Fund, among others.

Shares of Brainbees Solutions, which operates and owns FirstCry, listed with a premium of 40%- ₹651 on NSE against an issue price of ₹549. On BSE, the stock listed at ₹625 apiece, up 34.4%. The shares traded at a GMP of ₹84 in the unlisted market ahead of the listing.

FirstCry shares traded at a GMP of ₹84 in the unlisted market ahead of the listing.

Ahead of the issue opening, the company raised ₹1886 crore from 71 anchor investors including SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Government of Singapore, ADIA, Goldman Sachs among others.

Net proceeds from the IPO will be used by the company to set up new modern stores under the brand 'BabyHug', invest in subsidiary Digital Age, overseas expansion, sales and marketing initiatives.