Firstcry IPO: Brainbees Solutions Limited, the parent company of the ‘Firstcry’ brand, launched its initial public offering on August 6, 2024, which will close on August 8, 2024. This leaves Indian primary market investors with only one day to apply, as the bidding ends this evening. The price range for the Firstcry IPO has been set by Brainbees Solutions Limited at ₹440 to ₹465 per equity share. As per the Firstcry IPO subscription status, the public offering received a modest response from Indian primary market investors, with the Brainbees Solutions IPO being subscribed only 0.30 times in the first two days. Despite this, the grey market indicates a positive listing for Firstcry’s IPO.
Firstcry’s IPO GMP is today
Today’s
is ₹31, a ₹14 decrease from Wednesday’s ₹45, according per stock market experts. They speculated that Firstcry’s IPO GMP may have declined due to secondary market volatility and a lack of primary market investor response. They did, however, emphasize that the IPO size is large, thus applicants should not rely just on the Firstcry IPO subscription status while applying for the largest IPO of 2024. They recommended investors to review the company’s financials before making an investment decision on the Firstcry IPO.
Subscription status for FirstCry’s IPO
By 2:45 PM on day three of bidding, the public issue had been subscribed 7.13 times, the retail component had been booked 1.92 times, and the NII portion had been 11.23 times.
Review of the Firstcry Initial Public Offering
AUM Capital gives the FirstCry IPO a’subscribe’ tag, saying, “FirstCry is the leading brand in India.” With an increase in disposable income, parents today are willing to spend more money for their children’s well-being and benefit. FirstCry is the top pick among prospective customers due to its distinctive brand positioning and market share. India’s childcare penetration is quite low in comparison to global standards, creating a significant opportunity for branded players such as FirstCry. Further investment in its production facilities is projected to strengthen its footprint not only in India, but also on the international stage. As a result, we urge that you “SUBSCRIBE” to this issue.
Dr Choksey has also tagged the book build issue as’subscribe’, stating, “FirstCry has a strong market position as India’s largest multi-channel retailing platform for mothers’, babies’, and kids’ products, with significant revenue growth and a robust increase in customer engagement, as evidenced by rising GMV and app downloads. The company’s multi-channel approach, effective content and technology use, smart development into international markets, and new product categories all contribute to its growth potential. The company’s revenue increased from INR 35,975 Mn to INR 64,809 Mn between FY22 and FY24, reflecting a 64.3% two-year CAGR. The adjusted EBITDA has increased from 2.6% in FY22 to 4.2% in FY24, demonstrating the company’s incremental profitability.
Furthermore, Canara Bank Securities, Hem Securities, Indsec Securities, Marwadi Shares and Finance, Nirmal Bang, Sushil Finance, and Ventura Securities have tagged the public offering as’subscribe’.
Read Also: FirstCry IPO Day 2: Is it worth applying? Insights on GMP, subscription status, and more.
