Firstcry’s IPO was opened for public subscription on August 6 and closed on August 8. The IPO allotment was fixed on August 9 and the Firstcry IPO listing date was August 13.
Brainbees Solutions Limited, the parent company of FirstCry.com, is launching its Initial Public Offering (IPO) through a new issue and an offer for sale by various entities, including SVF Frog (Cayman) Ltd, Mahindra & Mahindra Limited, PI Opportunities Fund-1, TPG Growth V SF Markets Pte. Ltd., NewQuest Asia Investments III Limited, Ratan Tata, and others.
Valued at approximately $499.49 million, the IPO is being managed by Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, JM Financial Limited, and Avendus Capital Private Limited.
Legal Advisors:
- Shardul Amarchand Mangaldas & Co is advising Brainbees Solutions on the IPO. The team includes Prashant Gupta (Partner and National Practice Head – Capital Markets), Sayantan Dutta (Partner), Trishita Dasgupta (Counsel), Kamiya Marwah (Senior Associate), Divya Dhawan (Associate), and Purva Mishra (Associate).
- Sidley Austin LLP is handling international legal aspects for Brainbees Solutions.
- Cyril Amarchand Mangaldas is representing SVF Frog (Cayman) Ltd, with Yash Ashar (Senior Partner) and Devaki Mankad (Partner) leading the team, supported by Sanjana Ravjiani (Senior Associate).
- Trilegal is advising a group of major institutional selling shareholders, including Premji Invest, Mahindra & Mahindra, TPG, NewQuest Asia, and ChrysCapital. The team is led by Partners Bhakta Patnaik and Albin Thomas, with support from Malika Grewal (Counsel) and Pratyusha Dasgupta (Associate).
- Khaitan & Co and Linklaters Singapore are providing legal support to the bankers on the Indian and international aspects of the transaction, respectively. Khaitan & Co’s team includes Abhimanyu Bhattacharya, Oishik Bagchi, Aparna Bagree, Ritika Khare, Saisha Bacha, Divyam Wadhwa, and Arjun Kapur. The Linklaters team is led by Amit Singh (Partner and Head of India Practice), with Joseph Wolpin (Counsel) and Anandee Banerji (Managing Associate) providing additional support.
The IPO has been highly successful, with overall subscription exceeding 12.22x. Qualified Institutional Buyers (QIBs) subscribed over 19.30x, while Non-Institutional Buyers (NIBs) subscribed over 4.68x.
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