FirstCry IPO: Should Investors Subscribe? Here’s What Brokerages Are Saying | Economy News
New Delhi: The Rs 4,194 crore initial public offer of e-commerce platform FirstCry’s parent Brainbees Solutions that opened on Tuesday, saw 11 percent on the first day of bidding.
The IPO, that closes for public subscription on August 8, received bids for 53,36,320 shares against 4,96,39,004 shares on offer on day 1, as per NSE data.
Kotak Mahindra Capital Company Ltd, Morgan Stanley India Company, BofA Securities India, JM Financial and Avendus Capital are the book-running lead managers to the issue.
Check Out brokerage reports for Brainbees Solutions Limited (FirstCry) IPO
| Brainbees Solutions Limited (FirstCry) IPO – Brokerage Reports | ||
|---|---|---|
| Sr. No. | Brokerage House | Recommendation |
| 1 | Canara Bank Securities | Subscribe for long term |
| 2 | Deven Choksey | Subscribe |
| 3 | SBI Securities | Subscribe for long term |
| 4 | Marwadi Financial | Subscribe |
| 5 | Nirmal Bang | Subscribe |
| 6 | Sushil Finance | Subscribe for long term |
| 7 | Ventura Securities | Subscribe |
| 8 | AUM Capital | Subscribe |
| 9 | Hem Securities | Subscribe for long term |
| 10 | Arihant Capital | Subscribe |
| 11 | Indsec Securities | Subscribe for long term |
The public issue of Pune-based Brainbees Solutions consists of a fresh issue of equity shares valued at Rs 1,666 crore and an OFS (offer for sale) component of up to 5.44 crore shares worth Rs 2,528 crore by existing shareholders. This takes the total issue size to Rs 4,194 crore.
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