FirstCry's ₹4,193 crore IPO opens: 10 things to know before subscribing
FirstCry IPO comprises a fresh issue of shares worth ₹1,666 crore and an offer for sale (OFS) of up to 5.4 crore shares with a face value of ₹2 per share.
The initial public offering (IPO) of Firstcry opens for subscription today (August 6) and will close on August 8. Through the offer, the company aims to raise ₹4,194 crore. Here are 10 things to know about the Firstcry IPO:
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1. Firstcry is India’s largest multi-channel retailing platform for mothers’, babies’ and kids’ products, in terms of GMV for the financial year 2024. The company sells its products in India online and through company-owned stores, franchisee-owned stores and retail distribution.
2. Firstcry IPO comprises a fresh issue of shares worth ₹1,666 crore and an offer for sale (OFS) of up to 5.4 crore shares with a face value of ₹2 per share.
3. The price range of Firstcry IPO is in the range of ₹440-465 per share and investors can bid for 32 shares in one lot.
4. The current GMP of Firstcry is ₹85 in the unlisted market which indicates a premium of 18% to the issue price.
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5. The IPO reserves about 75% for qualified institutional buyers, 10% for retail investors and the remaining 15% for non-institutional investors.
6. In FY24, Firstcry reported 15% growth in operating revenue at ₹6,481 crore. The company reduced losses by 34% to ₹321 crore during the same period and in the last three years the company's revenue from operations has grown to 6,481 crore for FY24 from ₹2,401 crore in FY22.
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7. Net proceeds from the IPO will be used by the company for setting up new modern stores under the brand 'BabyHug', for investment in Digital Age, overseas expansion and other initiatives, Firstcry said.
8. Book running lead managers of the Firscry IPO are Kotak Investment Banking, Morgan Stanley, BofA Securities, JM Financial and Avendus.
9. Link Intime India is the registrar of Firstcry IPO.
10. The share allotment for the IPO will likely be finalised on August 9 and the company is likely to list on stock exchanges on August 13.