Firstcry Parent Brainbees Solutions Raises Rs 1,885 Crore From Anchor Investors

Brainbees Solutions Ltd. has raised Rs 1,885 crore from anchor investors on Monday, ahead of its initial public offering. The company allotted 4.05 crore shares at Rs 465 apiece to 71 anchor investors.

SBI Blue Chip Fund got the highest allocation of 8.43%. The government of Singapore got the second-highest allotment of 6.81%. Government Pension Fund Global, Abu Dhabi Investment Authority-Monsoon, and Fidelity Funds-India Focus Fund were among the others to get a 3.55% stake in the company.

Eight domestic mutual funds have applied through a total of 23 schemes, Firstcry's parent said in an exchange filing on Monday. They have collectively netted 37.38% of the anchor portion of Rs 704 crore.

SBI, HDFC, ICICI Prudential, Kotak Mahindra and 360 One were among the top fund houses in this category.

The company will launch its initial public offering on Tuesday to raise up to Rs 4,193.73 crore. The company has set a price range of Rs 440–465 per share for its three-day IPO, consisting of a fresh issue of 3.58 crore shares and an offer for sale of 5.44 crore shares. The minimum application lot size is 32 shares.

The offer, which concludes on Thursday, is set to list on the BSE and the National Stock Exchange.