FirstCry’s IPO was a resounding success.
The strong listing, with shares opening at a 40% premium to the IPO price, reflects high investor confidence in the company’s growth prospects.
Strong Debut: Rainbees Solutions Ltd, the operator of the FirstCry platform, made a strong stock market debut, with shares listing at a 40% premium at Rs 651 on the NSE, compared to the IPO price of Rs 465.
- IPO Details: The Rs 4,193.7 crore IPO included a fresh issue of 3.6 crore shares worth Rs 1,666 crore and an offer for sale of 5.4 crore shares amounting to Rs 2,527.7 crore. The price band was set between Rs 440 and Rs 465 per share.
- Subscription Levels: The IPO, open for subscription from August 6 to August 8, was subscribed 12.2 times overall, with strong demand from various investor categories:
- Retail category subscribed 2.3 times.
- Qualified Institutional Buyers (QIBs) subscribed 19.3 times.
- Non-Institutional Investors (NIIs) subscribed 4.7 times.
