Firstcry IPO: GMP, subscription status, review. Should you apply for Brainbees Solutions shares

Firstcry IPO: The initial public offering of the 'firstcry' brand parent Brainbees Solutions Limited opened on 6th August 2024 and will remain open till 8th August 2024. So, the Indian primary market investors have just one day to apply for the Firstcry IPO as bidding for the public issue ends this evening. Brainbees Solutions Limited has declared the Firstcry IPO price band at ₹440 to ₹465 per equity share. According to the Firstcry IPO subscription status, the public issue has received a luke response from the Indian primary market investors as the Brainbees Solutions IPO has been subscribed just 0.30 times in the first two days of bidding. However, the grey market signals a positive listing for Firstcry IPO. Stock market experts say that Firstcry IPO GMP (grey market premium) today is ₹31 in the grey market.

Firstcry IPO GMP today

According to stock market observers, Firstcry IPO GMP today is ₹31, ₹14 lower than Wednesday's Firstcry IPO GMP of ₹45. They said that Firstcry's IPO GMP might have fallen due to volatility in the secondary market and the cold response of the primary market investors. However, they noted that the IPO size is big, so one should not look only at the Firstcry IPO subscription status while applying for the biggest IPO of 2024. They advised investors to scan company financials before making any investment decision regarding Firstcry IPO.

Firstcry IPO subscription status

By 2:45 PM on day 3 of bidding, the public issue had been subscribed 7.13 times; the retail portion had been booked 1.92 times, and the NII portion had been 11.23 times.

Firstcry IPO review

Giving a 'subscribe' tag to the FirstCry IPO, AUM Capital says, "FirstCry is the leading brand in India. With a rise in disposable income, parents nowadays do not mind spending an extra amount for the well-being and benefit of their children. With its unique brand positioning and market share, FirstCry is the prime choice amongst its prospective customers. India's childcare penetration is very low compared to world standards, which presents an enormous opportunity for branded players like FirstCry. Further investment into its manufacturing facilities is expected to solidify its presence not only in India but also at the international level. We would hence recommend a "SUBSCRIBE" to the issue."

Dr Choksey has also given a 'subscribe' tag to the book build issue, saying, "FirstCry has a strong market position as India's largest multi-channel retailing platform for mothers', babies', and kids' products, with significant revenue growth and a robust increase in customer engagement, showcased by rising GMV and app downloads. The company's multi-channel approach, effective content and technology use, strategic expansion into international markets, and new product categories underpin its growth potential. The company has grown from INR 35,975 Mn to INR 64,809 Mn over FY22 to FY24, implying a 2-year revenue CAGR of 64.3%. The Adj EBITDA has grown from 2.6% in FY22 to 4.2% in FY24, showcasing the incremental profitability of the company. Given that the price to sales multiple at the upper price band of 3.8x is at a much higher discount to more directly related peers (Online + Offline presence) like FSN E-commerce & Honasa, we assign a SUBSCRIBE rating for this IPO."

In addition, Canara Bank Securities, Hem Securities, Indsec Securities, Marwadi Shares and Finance, Nirmal Bang, Sushil Finance, and Ventura Securities have also given the public issue a 'subscribe' tag.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.