FirstCry IPO: Should Investors Subscribe? Here's What Brokerages Are Saying

New Delhi: The Rs 4,194 crore initial public offer of e-commerce platform FirstCry's parent Brainbees Solutions that opened on Tuesday, saw 11 percent on the first day of bidding.

The IPO, that closes for public subscription on August 8, received bids for 53,36,320 shares against 4,96,39,004 shares on offer on day 1, as per NSE data.

Kotak Mahindra Capital Company Ltd, Morgan Stanley India Company, BofA Securities India, JM Financial and Avendus Capital are the book-running lead managers to the issue.

Check Out brokerage reports for Brainbees Solutions Limited (FirstCry) IPO

Brainbees Solutions Limited (FirstCry) IPO - Brokerage Reports
Sr. No.	Brokerage House	Recommendation
1	Canara Bank Securities	Subscribe for long term
2	Deven Choksey	Subscribe
3	SBI Securities	Subscribe for long term
4	Marwadi Financial	Subscribe
5	Nirmal Bang	Subscribe
6	Sushil Finance	Subscribe for long term
7	Ventura Securities	Subscribe
8	AUM Capital	Subscribe
9	Hem Securities	Subscribe for long term
10	Arihant Capital	Subscribe
11	Indsec Securities	Subscribe for long term

The public issue of Pune-based Brainbees Solutions consists of a fresh issue of equity shares valued at Rs 1,666 crore and an OFS (offer for sale) component of up to 5.44 crore shares worth Rs 2,528 crore by existing shareholders. This takes the total issue size to Rs 4,194 crore.