FirstCry's parent sets price band for IPO at Rs 440-465 per share

FirstCry IPO: BrainBees Solutions, the parent company of baby products retailer FirstCry, is set to raise up to $501 million through its initial public offering (IPO), according to a term sheet reviewed by Reuters. The IPO aims to value the company at approximately $2.9 billion.

The offering consists of fresh shares worth $199 million, while existing investors, including SoftBank, TPG, and India's Mahindra and Mahindra, will divest a combined stake valued at $302 million. The price band for the IPO has been set between Rs 440 and Rs 465 per share.

FirstCry specialises in a wide range of baby products, such as clothes, diapers, and toys, and is looking to capitalise on the growing market for new parents in India.

(With Reuters inputs)