FirstCry parent Brainbees files IPO papers with SEBI; M&M to sell 28 lakh shares
The parent company of online retailer FirstCry, Brainbees Solutions, has submitted an application for an initial public offering (IPO) with the market regulator SEBI. The company plans to sell fresh equity shares worth Rs 1,816 crore, according to the Draft Red Herring Prospectus (DRHP). In addition to this, existing investors, including SoftBank, will sell up to 5.44 crore shares via an Offer for Sale (OFS).
Apricot Investments, Valiant Mauritius, TIMF, Think India Opportunities Fund, Schroders, NewQuest Asia, TPG, PI Opportunities, SVF and M&M among shareholder looking to sell stake in FirstCry, according to the DRHP filed before regulator. FirstCry may consider a private placement of shares to certain investors for an up to Rs 363.20 crore.
Automobile manufacturer Mahindra & Mahindra Ltd (M&M) will sell a 0.58 percent stake or 28 lakh shares in Brainbees Solutions, it said in the DRHP filing. The selling price of the shares will be determined by Brainbees in consultation with the Book Running Lead Managers, once the price band of the IPO is decided.
