Brainbees Solutions (Firstcry) IPO Review

Brainbees Solutions (Firstcry) is India’s largest multi-channel retailing platform for Mothers’, Babies’ and Kids’ products, in terms of GMV, for the Financial Year 2024, according to the RedSeer Report, with a growing presence in select international markets. In India, they sell Mothers’, Babies’ and Kids’ products through their online platform, company-owned modern stores, franchisee-owned modern stores and general trade retail distribution.

The Company does not have an Identifiable Promoter.

Financially, Brainbees Solutions (Firstcry) revenue jumped from ₹25,169.16 Millions in FY22 to ₹57,312.76 Millions in FY23 and currently jumped to ₹65,750.81 Millions in FY24. But, EBITDA declined from ₹-182.01 Millions in FY22 to ₹-2,629.04 Millions in FY23 and currently climbed at ₹704.91 Millions in FY24. Similarly, the PAT also declined from ₹-786.85 Millions in FY22 to ₹-4860.56 Millions in FY23 and currently declining at ₹-3,215.07 Millions in FY24. This indicates a  financial performance.

For the Brainbees Solutions (Firstcry) IPO, the company is issuing shares at a pre-issue EPS of ₹-6.20 and a post-issue EPS of ₹-5.28. The pre-issue P/E ratio is -75.00x, while the post-issue P/E ratio is -88.06x. These metrics suggest that the IPO is fully priced.

The Grey Market Premium (GMP) of Brainbees Solutions (Firstcry) indicates potential listing gains of 5% - 10%. Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid the Brainbees Solutions (Firstcry) Limited IPO for Listing gain or long term investment purposes.