FirstCry parent Brainbees Solutions' share price zooms 13% on February 20; recent updates you must know

On February 17, in its filing to stock exchanges, the company said that ICICI Prudential Mutual Fund (the Fund) under its various schemes holds equity shares of Brainbees Solutions Ltd.

"In this regard, kindly note that the schemes of the Fund have done the acquisition of 2,00,210 shares of the company on February 16, 2026. As a result of the aforesaid purchase, the shareholding of the fund has exceeded 5% of the paid-up capital of the company," the filing added.

The holding by schemes of the Fund is from an investment perspective and not with the objective of seeking any controlling interest, the company added.

Brainbees Solutions listing details

Shares of e-commerce platform FirstCry's parent, Brainbees Solutions Ltd, debuted on August 13, 2024, at a premium of 40% against the issue price of ₹465.

The stock made its debut at ₹625, a jump of 34.40% from the issue price on the BSE. Later, it surged 52% to $707.05.

On the NSE, it was listed at ₹651, reflecting a sharp rally of 40%.

The initial public offering (IPO) of Brainbees Solutions received 12.22 times subscription on the closing day of bidding.

The ₹4,194 crore initial share sale had a price band of ₹440-₹465 a share.

The public issue of Pune-based Brainbees Solutions had a fresh issue of equity shares valued at ₹1,666 crore and an OFS (Offer For Sale) component of up to 5.44 crore shares worth ₹2,528 crore by existing shareholders.

The company had said that it would use net proceeds from the fresh issue for setting up stores under the brand 'BabyHug', investment in subsidiaries, overseas expansion, and sales and marketing initiatives. Besides, a portion will be used for corporate general purposes.

Launched in 2010, FirstCry is India's largest multi-channel, multi-brand retailing platform for mothers', babies', and kids' products. It was set up to create a one-stop destination for parenting needs across commerce, content, community engagement, and education, based on brand affinity, loyalty, and trust of customers.

Further, FirstCry established itself in the UAE and Saudi Arabia in 2019 and 2022, respectively.