Brainbees Solutions IPO
Brainbees Solutions Limited (FIRSTCRY) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 13 August 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +7.6% (likely range +2% to +25%), day's high +23.6%, chance of a gain 82%. Actual: +40.0% at the open, +52.2% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 2,70,36,953 | 52,19,04,896 | 19.3x | |
| NII (HNI) total | 1,35,18,476 | 6,32,38,752 | 4.68x | |
| Big NII (above ₹10 lakh) | 90,12,318 | 4,79,78,944 | 5.32x | |
| Small NII (₹2-10 lakh) | 45,06,158 | 1,52,59,808 | 3.39x | |
| Retail | 90,12,317 | 2,08,17,792 | 2.31x | |
| Employees | 71,258 | 4,68,032 | 6.57x | |
| Total | 4,96,39,004 | 60,64,29,472 | 12.2x |
Bids on NSE and BSE together, as published by NSE, as of 08 Aug 2024, 07:00 PM. Shares offered exclude the anchor portion. 3% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Brainbees Solutions's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| PB FintechNov 2021 | 24.9x | 7.82x | 3.31x | 16.6x | ₹6,224 Cr | +17.4% | +27.4% |
| Go Digit General InsuranceMay 2024 | 12.6x | 7.24x | 4.27x | 9.60x | ₹2,615 Cr | +5.2% | +15.4% |
| Global HealthNov 2022 | 28.6x | 4.02x | 0.88x | 9.58x | ₹2,252 Cr | +19.4% | +26.4% |
| Honasa ConsumerNov 2023 | 11.5x | 4.02x | 1.35x | 7.61x | ₹1,702 Cr | +1.9% | +5.1% |
| Rainbow Childrens MedicareApr 2022 | 38.9x | 3.73x | 1.38x | 12.4x | ₹1,581 Cr | -5.9% | -4.5% |
| Mankind PharmaApr 2023 | 49.2x | 3.80x | 0.92x | 15.3x | ₹4,326 Cr | +20.4% | +32.4% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| Morgan Stanley India Company | 24 | +13.9% | 67% |
| BofA Securities India | 18 | +30.6% | 72% |
| JM Financial | 109 | +22.8% | 75% |
| Avendus Capital | 9 | +8.6% | 67% |
Offer documents (NSE)
Frequently asked
What is the Brainbees Solutions IPO price band and lot size? ₹440–465 per share, with a lot of 32 shares, so the smallest retail bid is ₹14,880.
How many times has it been subscribed? 12.2x overall: QIB 19.3x, NII 4.68x, retail 2.31x, employees 6.57x.
How did it list? It opened at ₹651, +40.0% against the issue price of ₹465, and closed its first day +46.0%.
