Brainbees Solutions
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 06 Aug 2024 – 08 Aug 2024
- Listing date
- 13 Aug 2024
- Face value
- ₹2 per share
- Issue price
- ₹465 per share
- Lot size
- 32 shares
- Total issue size
- ₹4,194 Cr
- Market cap at offer price
- ₹24,142 Cr
- ISIN
- INE02RE01045
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Kotak Mahindra Capital Co.Ltd.
- Registered office
- Rajashree Business Park, Survey No.338, Next to Sohrabh Hall, Tadiwala Road, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 4,05,55,428 | — | — |
Application size
Minimum 32 shares per lot, in multiples, at ₹465
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 32 | ₹14,880 |
| Retail (max) | 13 | 416 | ₹1,93,440 |
| S-HNI (min) | 14 | 448 | ₹2,08,320 |
| S-HNI (max) | 67 | 2,144 | ₹9,96,960 |
| B-HNI (min) | 68 | 2,176 | ₹10,11,840 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | −6.65 | −6.19 |
| Price to book (×) | 6.49 | — |
| Market cap | — | ₹24,142 Cr |
No price-to-earnings multiple is shown: the company reported a loss, and an earnings multiple struck on negative earnings would read as a cheap valuation while meaning the opposite.
Key performance indicators
- Return on net worth
- −8.65%
- NAV per share
- ₹71.65
- Price to book
- 6.49
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Brainbees Solutions
Brainbees Solutions Limited was incorporated on May 17, 2010 as a private limited company at Pune, Maharashtra, and was converted into a public limited company in 2023 (fresh certificate of incorporation dated November 2, 2023). It launched the FirstCry platform in India in 2010 and expanded internationally, establishing a presence in the UAE in 2019 and KSA in 2022. The company offers more than 1.65 million SKUs from over 7,580 brands — third-party Indian brands, global brands, and home brands such as BabyHug, Babyoye, Cutewalk and Pine Kids — through its website and mobile application, a network of 1,063 FirstCry and BabyHug modern stores (435 COCO and 628 FOFO) across 533 cities in 28 states and five union territories, and general trade retail distribution channels; it also operates 208 FirstCry Intellitots preschools across 107 cities. It makes money from product sales across these channels, advertising revenue from third-party brands via internet display services, franchisee commissions, royalty/service income from overseas subsidiaries, and preschool fees. Growth has been organic and acquisitive: it acquired Digital Age Retail Private Limited on May 2, 2022 (which engages in multi-brand retailing and operates the online platform), and holds a 50.23% fully diluted stake in Globalbees Brands, a D2C venture that has acquired controlling stakes in 21 entities and entered five business transfer agreements; subsidiaries Swara Baby, Solis Hygiene and Swara Hygiene manufacture diapers for home and third-party brands. For Fiscal 2024 it reported revenue from operations of ₹64,808.56 million, consolidated GMV of ₹91,211.28 million and a loss of ₹(3,215.07) million. Per the RHP, the Company does not have an identifiable promoter.
Company Analysis
from RHPBrainbees Solutions Limited operates FirstCry, an integrated multi-channel retailing platform for mothers', babies' and kids' products — spanning e-commerce, modern-store retail, general trade distribution, home-brand manufacturing, D2C brand aggregation (GlobalBees) and preschool education — across India, the UAE and Saudi Arabia.
Brainbees Solutions Limited was incorporated on May 17, 2010 as a private limited company at Pune, Maharashtra, and was converted into a public limited company in 2023 (fresh certificate of incorporation dated November 2, 2023). It launched the FirstCry platform in India in 2010 and expanded internationally, establishing a presence in the UAE in 2019 and KSA in 2022. The company offers more than 1.65 million SKUs from over 7,580 brands — third-party Indian brands, global brands, and home brands such as BabyHug, Babyoye, Cutewalk and Pine Kids — through its website and mobile application, a network of 1,063 FirstCry and BabyHug modern stores (435 COCO and 628 FOFO) across 533 cities in 28 states and five union territories, and general trade retail distribution channels; it also operates 208 FirstCry Intellitots preschools across 107 cities. It makes money from product sales across these channels, advertising revenue from third-party brands via internet display services, franchisee commissions, royalty/service income from overseas subsidiaries, and preschool fees. Growth has been organic and acquisitive: it acquired Digital Age Retail Private Limited on May 2, 2022 (which engages in multi-brand retailing and operates the online platform), and holds a 50.23% fully diluted stake in Globalbees Brands, a D2C venture that has acquired controlling stakes in 21 entities and entered five business transfer agreements; subsidiaries Swara Baby, Solis Hygiene and Swara Hygiene manufacture diapers for home and third-party brands. For Fiscal 2024 it reported revenue from operations of ₹64,808.56 million, consolidated GMV of ₹91,211.28 million and a loss of ₹(3,215.07) million. Per the RHP, the Company does not have an identifiable promoter.
Objects of the Issue
- Expenditure by the Company for setting up new modern stores under the 'BabyHug' brand (₹939.00 million) and setting up a warehouse (₹142.00 million) in India ₹1,081.00 million p.30
- Lease payments for existing identified modern stores owned and operated by the Company in India ₹931.00 million p.30
- Investment in subsidiary Digital Age for setting up new modern stores under the FirstCry brand and other home brands (₹1,690.00 million) and lease payments for existing identified modern stores owned and controlled by Digital Age in India (₹1,306.00 million) ₹2,996.00 million p.30
- Investment in subsidiary FirstCry Trading for overseas expansion in KSA — setting up new modern stores (₹726.00 million) and warehouse(s) (₹830.00 million) ₹1,556.00 million p.30
- Investment in subsidiary Globalbees Brands towards acquisition of additional stake in step-down subsidiaries ₹1,690.00 million p.30
- Sales and marketing initiatives ₹2,000.00 million p.30
- Technology and data science cost including cloud and server hosting related costs ₹576.00 million p.30
- Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes (cumulative amount capped at 35% of amount raised; inorganic growth capped at 25%; general corporate purposes capped at 25%) [●] p.30
Issue Structure
- Total Issue
- ₹[●] million
- Fresh Issue
- [●] equity shares of face value ₹2 each aggregating up to ₹16,660.00 million
- Offer for Sale
- Up to 54,359,733 equity shares of face value ₹2 each aggregating to ₹[●] million (up to 46,814,458 shares by Corporate Selling Shareholders and up to 7,545,275 shares by Individual Selling Shareholders)
- Face Value
- ₹2 each
Business Model
Earns revenue primarily by selling mothers', babies' and kids' products (third-party brands and its own home brands) through its online platform (website/mobile app), company-owned (COCO) and franchisee-owned (FOFO) modern stores, and general trade distribution in India, and through online platforms in the UAE and KSA; supplemented by advertising revenue from third-party brands using its internet display services, royalty and service income from overseas subsidiaries, preschool fees, and returns from its Globalbees Brands D2C aggregation venture.
Business Segments
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.