FirstCry's Initial Public Offering (IPO) - Key Details and Timeline

Strategic Insights -

FirstCry's parent company, Brainbees Solutions Ltd, has set the price band for its initial public offering (IPO) at Rs. 440 to Rs. 465 per equity share of face value Rs. 2. The IPO is scheduled to open for subscription on August 6 and will close on August 8. The allocation to anchor investors is set for August 5.

Key Takeaways:

  • The IPO will consist of an offer for sale of 1,26,41,600 equity shares by the existing shareholders.
  • The company has reserved not less than 75% of the offer for qualified institutional buyers (QIB), not more than 15% for non-institutional investors, and not more than 10% for retail investors.
  • The IPO lot size is 32 equity shares, and the bidding will be in multiples of 32 equity shares thereafter.
  • The basis of allotment of shares will be finalised on August 9, and refunds will be initiated on August 12.
  • The shares will be credited to the demat account of allottees on the same day as the refunds.
  • The shares are expected to be listed on BSE and NSE on August 13.

Statistics:

  • IPO price band: Rs. 440 to Rs. 465 per equity share.
  • Face value of each equity share: Rs. 2.
  • Total number of equity shares offered: 1,26,41,600.
  • QIB allocation: not less than 75% of the offer.
  • NII allocation: not more than 15% of the offer.
  • Retail investor allocation: not more than 10% of the offer.
  • IPO opening date: August 6.
  • IPO closing date: August 8.
  • Allocation to anchor investors: scheduled for August 5.
  • Basis of allotment finalization date: August 9.
  • Refunds initiation date: August 12.
  • Share credit date: August 12.
  • Listing date: August 13.

Sources:

  • "FirstCry IPO sets price band at Rs 440- Rs 465 per share". Hindustan Times, 2023.