New Delhi: Brainbees Solutions Ltd, the parent company of online e-commerce platform FirstCry, has received approval from Sebi to raise funds through an initial public offering (IPO), an update with the markets regulator showed on Monday. .
Apart from this, three more companies - SaaS platform Unicommerce eSolutions, Gala Precision Engineering and Maharashtra-based Interarch Building Products - got the regulator's nod to go public for initial share sale.
These companies, which filed their preliminary IPO documents with Sebi between January and May 2024, obtained the regulator's observations from June 25 to 28, according to the update.
In Sebi's parlance, getting their observations means their approval to raise the public issue.
According to the new draft red herring prospectus (DRHP), the proposed initial public offering by Pune-based Brainbees Solutions is a combination of a fresh issue of shares, aggregating up to Rs 1,816 crore and an offer for sale ( OFS) up to Rs 5.44 crore. equity shares by existing shareholders.
According to the SFO, SVF Frog, a Softbank entity registered in the Cayman Islands, will sell 2.03 crore shares of Brainbees Solutions Ltd, and automaker Mahindra & Mahindra (M&M) will offload 28.06 lakh shares. actions of the company.
Currently, Softbank owns a 25.55 percent stake in Brainbees Solutions, and M&M owns a 10.98 percent stake in the multi-brand retail platform.
In addition to Softbank and M&M, other entities selling OFS shares include PI Opportunities Fund, TPG, NewQuest Asia Investments, Apricot Investments, Valiant Mauritius, TIMF Holdings, Think India Opportunities Fund and Schroders Capital.
Brainbees Solutions refiled draft documents with Sebi in May after the regulator directed the company to resubmit draft documents, citing insufficient disclosure of key performance indicators (KPIs), market sources said.
The company's key performance indicators include the number of orders, average order value, and annual customer transactions.
The Unicommerce issue is entirely an offer for sale (OFS) aggregating up to 2.98 crore shares of the selling shareholders.
According to the SFO, SB Investment Holdings (UK) Ltd, a subsidiary of Japan's SoftBank, will offload 1.61 million shares, promoter AceVector Limited (previously known as Snapdeal Limited) will sell up to 1.14 million shares and B2 Capital Partners will sell 22 lakh shares.
Since the IPO is completely an SFO, all proceeds will go to the selling shareholders.
The shares of these four companies will be listed on the BSE and NSE.
Apart from this, three more companies - SaaS platform Unicommerce eSolutions, Gala Precision Engineering and Maharashtra-based Interarch Building Products - got the regulator's nod to go public for initial share sale.
These companies, which filed their preliminary IPO documents with Sebi between January and May 2024, obtained the regulator's observations from June 25 to 28, according to the update.
In Sebi's parlance, getting their observations means their approval to raise the public issue.
According to the new draft red herring prospectus (DRHP), the proposed initial public offering by Pune-based Brainbees Solutions is a combination of a fresh issue of shares, aggregating up to Rs 1,816 crore and an offer for sale ( OFS) up to Rs 5.44 crore. equity shares by existing shareholders.
According to the SFO, SVF Frog, a Softbank entity registered in the Cayman Islands, will sell 2.03 crore shares of Brainbees Solutions Ltd, and automaker Mahindra & Mahindra (M&M) will offload 28.06 lakh shares. actions of the company.
Currently, Softbank owns a 25.55 percent stake in Brainbees Solutions, and M&M owns a 10.98 percent stake in the multi-brand retail platform.
In addition to Softbank and M&M, other entities selling OFS shares include PI Opportunities Fund, TPG, NewQuest Asia Investments, Apricot Investments, Valiant Mauritius, TIMF Holdings, Think India Opportunities Fund and Schroders Capital.
Brainbees Solutions refiled draft documents with Sebi in May after the regulator directed the company to resubmit draft documents, citing insufficient disclosure of key performance indicators (KPIs), market sources said.
The company's key performance indicators include the number of orders, average order value, and annual customer transactions.
The Unicommerce issue is entirely an offer for sale (OFS) aggregating up to 2.98 crore shares of the selling shareholders.
According to the SFO, SB Investment Holdings (UK) Ltd, a subsidiary of Japan's SoftBank, will offload 1.61 million shares, promoter AceVector Limited (previously known as Snapdeal Limited) will sell up to 1.14 million shares and B2 Capital Partners will sell 22 lakh shares.
Since the IPO is completely an SFO, all proceeds will go to the selling shareholders.
The shares of these four companies will be listed on the BSE and NSE.
