Firstcry got listed today and it did well; as against the IPO price of Rs.465, the stock got listed at Rs.625 on the BSE, a premium of 34%. It went up to Rs.707 and is now trading at Rs.669 levels.

The IPO did OK; it was overall subscribed 12.22x, with QIBs portion taking the lions share at 19.3x, HNIs at 4.68x and Retail at 2.31x.

Brainbees Solutions, popularly known as Firstcry, is an omni-channel mother-child care retailer, garnering 3/4th of Rs. 6,500 cr revenue online. Founded in 2010 by Mr. Supam Maheshwari, it operates 1,063 physical stores under Babyhug and Firstcry brands, all in India, of which, 435 are company-owned company-operated (COCO) and balance franchised.

In our IPO Analysis, we had concluded - Slow and slim business profitability along with possible supply overhang of 2/3^rd stake, held by pre-IPO investors, post 6 month lock-in, makes the IPO of Brainbees / Firstcry an avoid.