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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The company has made its market debut amid worsening business metrics. Separately, Amazon sees a top-level exit at a time when its e-commerce business has been sluggish.
The initial public offering of Brainbees Solutions, the parent company of FirstCry, has sailed through with a sizeable oversubscription. Even in a cluttered new offering week that saw Ola Electric Mobility, Unicommerce eSolutions and Ceigall India also hit the market.
The IPO’s 12.22x oversubscription is also remarkable because the week saw a meltdown in global equity markets—albeit short-lived.
The big oversubscription margin and grey market premium—currently at ~5%—suggest FirstCry will list at a premium on 13 August. Many IPO investors are likely to sell out. Others who won’t and, more importantly, the investors who pay a further premium to the …
