IPO-bound FirstCry reports 15% jump in FY24 revenue to Rs 6,481 crore, losses down 34%

Founded in 2010, Brainbees Solutions Limited, popularly known as "FirstCry" is a multi-channel retailing platform offering products for mothers, babies, and Kids via its online platform 'FirstCry'. The company's integrated FirstCry platform helps fulfill three essential parenting needs i.e., shopping, parenting community, and education.

The company is coming out with its IPO of fresh equity shares issue worth Rs. 1,666 crs and an Offer for Sale (OFS) worth Rs. 2,527 crores at the upper cap. The company has announced a price band of Rs. 440 - Rs. 465 per equity share of Rs. 2 each. The overall size of the issue will be 9,01,87,690 shares worth Rs. 4193.73 crores. The issue opens for subscription on August 06, 2024, and will close on August 08, 2024. 

FirstCry's revenue from operations increased to Rs 6,481 crore in FY24 from Rs 5,633 crore in FY23. The sale of its products through its offline stores and website was the primary source of revenue for FirstCry in FY24. Notably, its subsidiary GlobalBees has contributed Rs 1,209 crore in income to the FirstCry group.

The decent growth and controlled expenditure helped FirstCry to reduce its losses by 34% to Rs 321 crores during FY24 as compared to Rs 486 crores in FY23.