Ratan Tata, Sachin Tendulkar Add Crores To Their Coffers After FirstCry Goes Public
Following its initial public offering, Brainbees Solutions made a robust debut on the NSE, listing at Rs 651 per share, representing a 40% premium.
Ratan Tata saw returns of as much as 768% on his initial investment in FirstCry parent Brainbees Solutions Ltd., which listed on the bourses on Tuesday. Indian cricketer Sachin Tendulkar also saw gains.
Following its initial public offering, Brainbees Solutions made a robust debut on the NSE, listing at Rs 651 per share, representing a 40% premium over its issue price of Rs 465. On the BSE, the stock started at Rs 625, marking a 34% premium.
Ratan Tata, the former chairman of Tata Sons, held 77,900 shares in FirstCry before the company's initial public offering at an average price of Rs 84.72 each, valuing his holdings at Rs 65.99 lakh. While Tata was listed as one of the shareholders selling shares, the extent of his sale was not specified.
However, NDTV Profit's calculations indicate that if he sold at the highest IPO price, he would have made five times his investment to Rs 3.62 crore. Additionally, if he kept shares, their value would have increased sevenfold by the time of the listing to Rs 5.07 crore.
Separately, Sachin Tendulkar and his wife also own 2,05,153 shares at preent, purchased at an average price of Rs 487.44 apiece. With the stock’s recent performance, Tendulkar’s current holdings are worth over Rs 13.93 crore reflecting a return of 39.4% on his initial investment of Rs 9.9 crore.
Brainbees Solutions' initial public offering was subscribed 12.22 times on its third and final day, led by demand from institutional investors. The IPO consisted of a fresh issue of 3.58 crore shares, aggregating Rs 1,666 crore, and an offer for sale of 5.44 crore shares, amounting to Rs 2,527.7 crore.
The company raised Rs 1,885 crore from anchor investors ahead of the IPO.
FirstCry plans to utilise the proceeds from its IPO in several strategic areas. The company will allocate Rs 108.1 crore for setting up new modern stores under the ‘BabyHug’ brand and establishing warehouses. A total of Rs 93.1 crore will go towards lease payments for existing identified modern stores.
