The three-day issue is scheduled to close on 8 August, with bidding for the anchor portion opening for a day on 5 August
Online ecommerce platform FirstCry’s parent company, Brainbees Solutions, is set to introduce its initial public offering (IPO) on 6 August.
The three-day issue is scheduled to close on 8 August, with bidding for the anchor portion opening for a day on 5 August, according to the red herring prospectus (RHP).
The proposed public issue from Pune-based Brainbees Solutions includes a fresh issue of equity shares valued at Rs 1,666 crore and an offer for sale (OFS) component of up to 5.44 crore shares by existing shareholders. The price band for the public issue will be announced on Thursday.
Under the OFS, SVF Frog, a Cayman Islands-registered entity of Softbank, will sell 2.03 crore equity shares of Brainbees Solutions and automaker Mahindra & Mahindra (M&M) will offload 28.06 lakh shares of the company.
Currently, Softbank holds a 25.55 per cent stake in Brainbees Solutions and M&M owns a 10.98 per cent stake in the multi-brand retailing platform.
Apart from Softbank and M&M, other shareholders participating in the OFS include PI Opportunities Fund, TPG, NewQuest Asia Investments, Apricot Investments and Schroders Capital.
Kotak Mahindra Capital Company, Morgan Stanley India Company Private, BofA Securities India, JM Financial and Avendus Capital Private are the book-running lead managers for the issue.
