FirstCry and Unicommerce Finally Makes An Entry In The Share Market

FirstCry and Unicommerce Finally Makes An Entry In The Share Market

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Brainbees Solutions, the parent company of FirstCry, a brand of infant items, and Unicommerce eSolutions, a provider of e-commerce solutions, made impressive market debuts on Tuesday.

FirstCry and Unicommerce Finally Makes An Entry In The Share Market
FirstCry and Unicommerce Finally Makes An Entry In The Share Market

FirstCry’s stock price surged 46%, increasing the Supam Maheshwari-led company’s market value to Rs 35,214 crore, while the stock price of Unicommerce, managed by Kunal Bahl, nearly doubled.

It’s interesting to note that SoftBank of Japan, a significant investor in the new-generation IT sector, supports both companies as well as Ola Electric, which went public on Friday.

FirstCry has also become a member of the group of unicorn startups that have successfully gone public in recent years. Zomato, Paytm, PolicyBazaar, and Ola are a few others.

“To our minds, the differentiating mentality of startups is that they worship at the temple of value creation. Almost to the exclusion of everything else. They are not there necessarily to build empires, they are there to build and create value; and that is why they are so agile; so nimble; and so focused,” said Anand Mahindra, chairperson, M&M, during FirstCry’s listing ceremony.

FirstCry’s shares finished at Rs 678 a share, which is higher than the share issue price of Rs 465. A new fund raise of Rs 1,666 crore and a secondary share sale of Rs 2,528 crore comprised its initial public offering (IPO). In the Rs 4,193-crore initial public offering (IPO), SoftBank, Mahindra & Mahindra, Premji Invest, and TPG were the sellers.

FirstCry plans to utilize the money from its first public offering (IPO) to open more stores, develop online, and grow in Saudi Arabia. The company’s operating revenues in FY24 were Rs 6,480 crore, while its net loss was Rs 321 crore.

Investor demand for FirstCry and Unicommerce was robust during their initial public offering (IPO) subscription period.

For IPOs in 2024, Unicommerce’s listing-day gains come in second place, behind BLS eServices. The shares finished Tuesday at Rs 210 apiece, down from the issue price of Rs 108 per share, after reaching a high of Rs 256.

AceVector (Snapdeal) and SoftBank made up the full offer for sale in the company’s Rs 277-crore first public offering.

As a platform that facilitates e-commerce, Unicommerce specializes in software as a service (SaaS) for transaction processing. For brands, retailers, and logistics companies, a whole suite of solutions guarantees smooth end-to-end management of e-commerce operations.

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