IPO Alert: You can become a ‘partner’ in this company for Rs 14,880!

New Delhi. The IPO of Brainbees Solutions, the parent company of baby product selling company FirstCry, is opening next week on Tuesday, 6 August. Former Tata Sons chairman Ratan Tata and cricketer Sachin Tendulkar have also invested in this company. Ratan Tata had invested in the company a few years ago, while the master-blaster bought unlisted shares of FirstCry last year. Now the company is bringing an IPO to raise Rs 4,187.72 crore from the market. Investors can invest in this IPO till 8 August.

The price band of FirstCry IPO is Rs 440 to Rs 465. There are 32 shares in one lot of IPO. According to the upper price band, a retail investor will have to invest at least Rs 14,880 in this IPO. Retail investors can invest a maximum of Rs 1,93,440 in the IPO, in which they will be given 416 shares in 13 lots. The company has given a big discount to its employees. Employees of Brainbees Solutions will get each share for Rs 396 to Rs 421.

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OFS along with new shares
New shares worth Rs 1,666 crore will be issued in the FirstCry issue. Apart from this, existing investors of the company will also sell shares worth Rs 2,527.72 crore through open for sale. The valuation of the company has been fixed at Rs 22,475 crore. 75 per cent of the issue is reserved for qualified institutional buyers (QIB), 10 per cent for retail investors and 15 per cent for non-institutional investors (NII). Equity shares worth up to Rs 3 crore have been reserved for employees.

They have invested money in the company
Ratan Tata has 77,900 shares of FirstCry. Sachin Tendulkar and his wife Anjali have 2 lakh shares of the company. Mariwala family has 20.5 lakh shares, Ranjan Pai family has 51.3 lakh shares, Kanwaljit has 3,07,730 lakh stock, Infosys co-founder Kris Gopalakrishnan family has 6,15,460 and DSP founder Hemendra Kothari has 8,20,614 shares.

Strong craze in the gray market
The unlisted shares of FirstCry IPO are getting a good response in the grey market. According to the websites tracking the grey market premium (GMP) of shares, FirstCry shares are trading at a premium of Rs 90 to Rs 95.

(Disclaimer: Investment made in IPO is subject to market risks. If you want to invest money in any of these, then first consult a certified investment advisor. AyraNews24x7 will not be responsible for any kind of profit or loss of yours.)

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