- The floor price of ₹440 is 220 times the face value of ₹2 per equity share, and the cap price of ₹465 is 232.5 times the face value.
- Investors can place bids for a minimum of 32 equity shares and in multiples of 32 shares thereafter.
BILKULONLINE
Ahmedabad, Aug 3: Brainbees Solutions Limited is set to open its initial public offering (IPO) on Tuesday, August 6, 2024. The bidding process for the IPO will conclude on Thursday, August 8, 2024. For anchor investors, the bidding date is scheduled for Monday, August 5, 2024, one working day prior to the official bid opening date.
The management team of BrainBees Solutions Limited (FirstCry.com) including Supam Maheshwari, the Managing Director & CEO and Gautam Sharma, who serves as the Group Chief Financial Officer (CFO) were in Ahmedabad on Friday. They addressed a media conference and provided details about thier upcoming IPO. Abhin Oswal represented the Kotak Investment banking.
Details of the IPO:
Price Band: ₹440 to ₹465 per equity share
Bid Lot: Investors can place bids for a minimum of 32 equity shares and in multiples of 32 equity shares thereafter.
Structure of the Offer:
Fresh Issue: The IPO includes a fresh issue of equity shares aggregating up to ₹16,660 million.
Offer for Sale: The offer for sale consists of up to 54,359,733 equity shares, with 46,814,458 shares offered by corporate selling shareholders and 7,545,275 shares by individual selling shareholders.
Employee Reservation:
The offer includes a reservation of equity shares aggregating up to ₹30 million for subscription by eligible employees, referred to as the “Employee Reservation Portion.” The remaining portion of the offer, excluding the Employee Reservation Portion, is referred to as the “Net Offer.”
Listing:
The equity shares are proposed to be listed on both BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE). The company has received in-principle approvals for listing from BSE and NSE, dated May 16, 2024.
Book Running Lead Managers:
The book running lead managers for the IPO are:
Kotak Mahindra Capital Company Limited
Morgan Stanley India Company Private Limited
BofA Securities India Limited
JM Financial Limited
Avendus Capital Private Limited
This IPO offers a significant opportunity for investors to participate in Brainbees Solutions Limited’s growth journey. With the company’s robust business model and experienced management team, the IPO is anticipated to attract substantial investor interest.