business

FirstCry parent Brainbees Solutions to open IPO on August 6

On Aug 04, 2024 By The Hindu Bureau

Brainbees Solutions Ltd., the parent of FirstCry.com has an Initial Public Offer (IPO) of its equity shares to mobilise upto ₹4,194 crore through a fresh issue and an Offer for Sale (OFS). The price band of the IPO has been fixed at ₹440 and ₹465 per equity share. The issue will open on August 6, 2024 and will close of August 8, 2024. Bids can be made for a minimum of 32 shares and in multiples of 32 shares thereafter. The floor price is 220 times and cap price is 232.5 times of the face value of the equity shares. The offer comprises of a fresh issue aggregating up to ₹1,666 crore and OFS of upto 54,359,733 equity shares of face value ₹2. At the upper price band the OFS will fetch ₹2,528 crore. Thus the total IPO size has been estimated at ₹4,194 crore.

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