BRAINBEES SOLUTIONS LIMITED (FIRST CRY) (MAINBOARD)

Aug 6, 2024 - Aug 8, 2024

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IPO Details

Total Issue Size	90,187,690 shares (aggregating up to 4193.73 Cr)
Fresh Issue	35,827,957  shares (aggregating up to 1,666 Cr)
Offer for Sale	54,359,733 shares aggregating up to 2,527.73 Cr)
Face Value	2/- per share
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Share holding pre issue	448,165,900
Share holding post issue	519,177,427

IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	75.00% of the Net offer
Retail Shares Offered	Not more than 10.00% of the Offer
NII (HNI) Shares Offered	Not more than 15.00% of the Offer

Key Performance Indicators

KPI	Mar-24	Mar-23	Mar-22
RONW	-8.65%	-12.76%	-2.04%
EPS (basic)	-6.20	-9.97	-1.74
P/E Pre IPO	-69.91
P/E  Post IPO	-75.09

Financial Statement (Restated)

Period Ended	Mar-24	Mar-23	Mar-22
Assets	7,510.38	7,119.83	6,197.16
Revenue	6,575.08	5,731.28	2,516.92
Profit After Tax	-321.51	-486.06	-78.69
Net Worth	3,170.74	3,456.26	3,527.94
Reserves and Surplus	3,081.74	3,367.21	3,439.17
Total Borrowing	462.72	176.47	90.16
Amount in Crore

About Company

Founded in 2010, Brainbees Solutions Limited, operating under the brand 'FirstCry', is a comprehensive online platform catering to the retail, content, community engagement, and education needs of parents and their children up to age 12. FirstCry offers a vast array of products, including apparel, footwear, baby gear, nursery items, diapers, toys, and personal care from over 7,500 brands and boasts more than 1.5 million SKUs. The platform features products from Indian and global third-party brands, as well as its own house brands, such as BabyHug, Pine Kids, Cute Walk by BabyHug, and Babyoye. Renowned for its brand awareness and customer trust, BabyHug has been identified as the largest multi-category brand for mother, baby, and kids' products in India by a RedSeer report, with FirstCry also being the largest specialized online retail platform for these products in the UAE as of the end of 2023. The company maintains a network of over 900 contract manufacturers in India and abroad for its house brands, and as of December 31, 2023, employs 3,411 full-time and 2,475 contract-based employees.

Largest Retailing Platform: FirstCry is India's largest multi-channel, multi-brand retailing platform for mothers, babies, and kids' products, offering extensive product variety and convenience.

Powerful Network Effects: The platform benefits from strong network effects driven by rich content, diverse brands, and data, enhancing user engagement and business growth.

Strong Brand Loyalty: FirstCry enjoys high brand affinity, loyalty, and trust from customers, reinforcing its market position and driving repeat business.

Uncertain Future Growth: FirstCry's historical performance may not indicate future growth or financial results, and the company might struggle to maintain its growth rates or effectively execute its strategies, potentially impacting its business and financial health.

Compliance Issues: The company has previously failed to comply with certain provisions of the Companies Act 2013, resulting in penalties. Future non-compliances could lead to additional penalties and financial burdens.

Subsidiary Concerns: The statutory auditors of Firstcry Retail DWC LLC, a subsidiary, have noted material uncertainty about its ability to continue as a going concern, posing a risk to the overall financial stability of the company.