Firstcry parent Brainbees raises Rs 1,886 crore from anchor investors before IPO launch

Baby and children’s personal care, apparel, and wellness brand Firstcry’s parent company Brainbees has raised Rs 1,886 crore from its anchor investors ahead of its initial public offering launch. The business’ IPO opened for public subscription on August 6 and closes on August 8.

Brainbees announced that it had raised the funds a day before its IPO went live, the Press Trust of India reported. The anchor investors which participated in the funding round included the Government of Singapore, Nomura Funds, Abu Dhabi Investment Authority, Fidelity Funds, Goldman Sachs Funds, Citigroup Global Markets Mauritius, SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mutual Fund, and SBI Life Insurance Company, according to an upload on the Bombay Stock Exchange’s website.
 
The business has allotted equity shares to a total of 71 funds. The 4.05 crore allotted shares were priced at Rs 465 each, taking the total funds raised to Rs 1,886 crore.  
 
The IPO has a price band of between Rs 440 and Rs 465 per share, India Retailing reported. The IPO comprises a fresh issue of equity shares with a total value of Rs 1,666 crore and an offer for sale (where stakeholders offload shares) of as many as 5.44 crore shares, valued at Rs 2,528 crore. The total size of the IPO is thus valued at Rs 4,194 crore.