Firstcry IPO Day 1: GMP, Review, Subscription Status, and Other Details

Synopsis: Firstcry's IPO, by Brainbees Solutions, opens today with a price band of Rs440-Rs465. Current GMP is Rs84.

Firstcry IPO GMP: Market observers report that Brainbees Solutions' share price is currently available at a premium of Rs84 in the grey market.

Firstcry IPO Overview: The initial public offering (IPO) of Brainbees Solutions Limited, the parent company of the Firstcry brand, has opened for subscription. The public issue will remain open until August 8, 2024. The IPO price band is set at Rs440 to Rs465 per equity share, with the listing proposed on BSE and NSE. The company aims to raise Rs4,193.73 crore, with Rs1,666 crore through the issuance of fresh shares.

Subscription Status: By 11:06 AM on the first day of bidding, the IPO was subscribed 0.04 times overall. The retail portion was subscribed 0.16 times, and the non-institutional investor (NII) segment was subscribed 0.02 times.

Key Details:

1. GMP: Brainbees Solutions' shares have a premium of Rs84 in the grey market today.
   
   
2. Price Band: The IPO price is set between Rs440 to Rs465 per share.
   
   
3. IPO Dates: Open from August 5 to August 8, 2024.
   
   
4. IPO Size: The total aim is Rs4,193.73 crore, with Rs1,666 crore from fresh shares.
   
   
5. Lot Size: Bidders can apply in lots, with one lot consisting of 32 shares.
   
   
6. Allotment Date: Share allocation is expected on August 9, 2024.
   
   
7. Registrar: Link Intime India Private Limited is the registrar.
   
   
8. Lead Managers: Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India, JM Financial, and Avendus Capital.
   
   
9. Listing Date: Expected listing on August 13, 2024, on BSE and NSE.
   
   
10. Review: Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, suggests applying for listing gains despite the company's recent losses and negative earnings. He anticipates a muted listing with a potential 20% premium.

Disclaimer

This article is for informational purposes only. Please conduct your own research or consult a financial advisor before making investment decisions. The author is not responsible for any financial losses.