MUMBAI: Brainbees Solutions, the parent company of the online e-commerce platform Firstcry which hawks babies’ and kids products, the Snapdeal-owned Unicommerce eSolutions and two other companies have received the regulatory approvals for IPOs.
The other two are, Interarch Building Products, and Gala Precision Engineering.
Firstcry has received the observation letter from the Sebi on June 25. It had filed the DRHP in April. In Sebi parlance, the issuance of an observation letter means the company can launch the initial public offering (IPO) within the next one year.
Brainbees’ IPO is a mix of fresh issuance of shares worth Rs 1,816 crore, and an offer-for-sale of 5,43,91,592 equity shares by existing shareholders, the company said in statement without revealing the OFS size.
SVF Frog (Cayman), Apricot Investments, Mahindra & Mahindra, Valiant Mauritius Partners, PI Opportunities fund, TIMF Holdings (Mauritius), TPG Growth Markets, Think India Opportunities master fund (Cayman), NewQuest Asia Investments, and Schroders Capital Private Equity Asia Mauritius are the selling shareholders in the Brainbees issue.
Of this, SVF Frog and M&M are the major shareholders with 25.53 per cent and 10.97 per cent stakes, respectively, in the largest domestic multi-channel retailing platform of mothers, babies and kids products.
Unicommerce eSolutions, Interarch Building Products, and Gala Precision Engineering have also said they received the Sebi’s observation letters on June 28.
Snapdeal-owned SaaS firm Unicommerce eSolutions, which had filed the DRHP in January, is only an OFS and does not have any fresh issue and so has not revealed the issue size as price is not set yet. Ifs existing shareholders are selling 2.98 million shares.
The OFS comprises 1,14,59,840 share sale by AceVector (formerly known as Snapdeal), 22,10,406 by B2 Capital Partners, and 1,61,70,240 by SB Investment Holdings.
The turnkey pre-engineering and steel construction solutions provider Interarch Building Products had filed draft papers in March and the issue will be mix of Rs 200 crore of fresh issue and an OFS of 44.5 lakh shares by the promoter group and investor-selling shareholders. Arvind Nanda, Gautam Suri, Ishaan Suri, Shobhna Suri, and OIH Mauritius are the selling shareholders in the OFS.
Maharashtra-based Gala Precision Engineering, which had filed draft papers in February, the issue is mix of fresh issues (25,58,416 shares), and an offer-for-sale (6,16,000 shares) by the existing shareholders.
Promoter Vishanji Harshi Gala will be the major selling shareholder in the OFS of the precision component of technical springs like disc & strip springs manufacturers. Others include Kirit Vishanji Gala, Nayna Gala, Satish Kotwani, Hemlata Dhiraj Shah, Dhiraj Nanchand Shah, Urmil Dhiraj Shah, and Rupa Sunil Mehta.
Promoters hold 74.56 percent stake in it and the remaining shares are with the public including Pooja Unichem.