FirstCry Parent Company Brainbees Solutions Set for IPO After Sebi Nod

Brainbees Solutions Ltd, the parent company of FirstCry, has received Sebi’s approval for an IPO. Alongside Brainbees, Unicommerce eSolutions, Gala Precision Engineering, and Interarch Building Products were also cleared for their initial share sales. Brainbees’ IPO involves fresh equity shares and an offer for sale by existing shareholders, including Softbank and Mahindra & Mahindra.

Brainbees Solutions Ltd, the parent firm of e-commerce giant FirstCry, received the green light from Sebi for its initial public offering (IPO), a regulatory update revealed on Monday.

Additionally, Unicommerce eSolutions, Gala Precision Engineering, and Interarch Building Products also got Sebi's nod to proceed with their IPOs. These approvals came after the companies submitted their preliminary papers between January and May 2024, and received the regulator's observations during June 25-28, marking the final endorsement to float their shares publically.

The IPO of Brainbees Solutions, headquartered in Pune, comprises a fresh issue of equity shares worth Rs 1,816 crore and an offer for sale (OFS) of up to 5.44 crore equity shares from existing stakeholders. Notably, Softbank's SVF Frog entity and automaker Mahindra & Mahindra will be significant contributors to the OFS. Softbank and M&M currently hold stakes of 25.55% and 10.98% respectively in Brainbees. Other entities involved in the share sale include PI Opportunities Fund, TPG, and various investment groups.

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