Brainbees Solutions Secures Rs 1,886 Crore from Anchor Investors Ahead of IPO

Brainbees Solutions Ltd, the parent company of FirstCry, has raised Rs 1,886 crore from anchor investors a day before its IPO launch. The company plans to use the funds for new stores, overseas expansion, and marketing initiatives. Major investors include the Government of Singapore and Nomura Funds.

Brainbees Solutions Ltd, the parent company of online e-commerce platform FirstCry, has successfully raised Rs 1,886 crore from anchor investors on Monday, a day ahead of its initial public offering (IPO).

Major institutional investors such as the Government of Singapore, Nomura Funds, and Abu Dhabi Investment Authority were among the key contributors, according to a circular posted on the BSE's website.

Brainbees Solutions assigned 4.05 crore equity shares to 71 funds at Rs 465 per share, the upper end of its price band. The IPO is set to open for public subscription from August 6 to August 8, with a price range of Rs 440-465 per share. The funds will be used for store expansions, investments in subsidiaries, overseas growth, and marketing.

(With inputs from agencies.)