Mumbai: According to SEBI (Security Exchange Board of India) filings, Brainbees solutions parent company of Omni channel FirstCry submitted an application for an IPO (Initial Public Offer) on 28 December 2023.

Launched in 2010 headquartered in Pune, It is an e-commerce company focused on a niche sector of baby products. In 2020 FirstCry raised Rs 1000 crores for series E funding. As per media reports in fiscal year 2023- 2024 the company reported revenue of Rs 1406.9 crores. The IPO fund can utilise procurement, employees benefit expenses, advertising expenses. The startup currently owns more than 300 stores and around 615 franchise based stores across Pan India.

According to Moneycontrol reported, FirstCry is looking to raise funds of Rs 4200 Crores through IPO, rest 60 per cent fund will garner through OFS (Offer For sale). The company is looking further for expansion and growth.

Company spent Rs 159.2 crores on Employees Benefit Expenses (EBE) before the IPO. In the fiscal year 22-23 the company suffered losses. According to DRHP filed before the regulator renowned names of institutions like M & M, SoftBank, Apricot, Investments, Valiant, Mauritius, TIMF, Think India will sell its stakes from FirstCry.

The OFS consists of 5.4 crore of equity shares. In 2021, the company raised funds from equity funding.