FirstCry IPO: Brainbees Solutions receives Sebi approval for its public issue | Stock Market News

FirstCry IPO: Brainbees Solutions Limited, the operator of FirstCry, has received the Securities and Exchange Board of India’s (SEBI) approval for its proposed initial public offering (IPO).

According to Sebi disclosure, the market regulator received FirstCry’s final observation letter on 25 June, which means the companies have clearance to list on the bourses.

Sebi had sought additional documents, following which FirstCry parent company Brainbees Solution refiled their papers for an IPO in April of this year.

The Company’s initial public offering comprises a fresh issue of equity shares aggregating up to 18,160.00 million and an offer for sale aggregating up to 54,391,592 equity shares by selling shareholders.

The report also informs that Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, JM Financial Limited, and Avendus Capital Private Limited are the Book-Running Lead Managers for the issue. 

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