FirstCry’s parent company, Brainbees Solutions, has received SEBI’s approval to raise funds through an IPO. The Pune-based company plans to issue new equity shares worth ₹1,816 crore and offer up to 5.44 crore shares for sale by existing shareholders.
Those selling their stakes include SVF Frog (Softbank), Mahindra & Mahindra (M&M), TPG, PI Opportunities Fund, Apricot Investments, NewQuest Asia Investments, Valiant Mauritius, Think India Opportunities Fund, TIMF Holdings, and Schroders Capital.
Currently, Softbank holds a 25.55% stake, while M&M owns 10.98% of Brainbees Solutions.
Brainbees re-filed preliminary IPO documents with SEBI in May 2024 after being directed to provide more detailed key performance indicators (KPIs), including the number of orders, annual transacting customers, and average order value. The online store for newborn, baby, and kids’ products was established in 2010 and is headquartered in Pune.
Additionally, three other companies have received SEBI’s observations regarding their IPO filings.