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FirstCry injects Rs 73 Cr in Globalbees, raises stake to 51.51%

EntrackrEntrackr · 6d ago
FirstCry injects Rs 73 Cr in Globalbees, raises stake to 51.51%
Medial

FirstCry injects Rs 73 Cr in Globalbees, raises stake to 51.51% Omnichannel baby products retailer FirstCry has infused Rs 73 crore into its subsidiary Globalbees Brands Pvt. Ltd. as part of the second tranche of its Series C2 funding round, according to a stock exchange filing. The Pune-based company subscribed to 2,220 Series C2 compulsory convertible preference shares (CCPS) at a face value of Rs 5 each and a premium of Rs 3,28,845 apiece on September 11. With this, FirstCry’s holding in Globalbees has inched up from 51.12% to 51.51% on a fully diluted basis. This is part of the board-approved plan to invest up to Rs 146 crore in Globalbees in one or more tranches. The latest tranche comes under the Series C2 Share Subscription Agreement signed on March 30, 2025. Alongside FirstCry’s infusion, Globalbees has allotted a total of 3,041 Series C2 CCPS to its existing shareholders, raising an aggregate Rs 100 crore in this tranche. FirstCry's revenue from operations grew to Rs 1,862.56 crore in Q1 FY26 from Rs 1,652 crore in Q1 FY25, and the company reduced its losses by 13% to Rs 66.5 crore in the same period. Notably, the company reported a positive EBITDA of Rs 75 crore.

Funding cycles come and go; great teams persist, compound value for shareholders: FirstCry’s Supam Maheshwari

Economic TimesEconomic Times · 1y ago
Funding cycles come and go; great teams persist, compound value for shareholders: FirstCry’s Supam Maheshwari
Medial

Indian retail brand FirstCry, operated by Brainbees Solutions, will launch its IPO on August 6, with a target of raising Rs 4,188 crore. CEO Supam Maheshwari discussed the company's journey, the changing IPO landscape for new-age firms, and plans for expansion. Despite market fluctuations, Maheshwari emphasized the importance of creating sustainable value and building a unique ecosystem story. FirstCry plans to open 350 stores over the next three years, invest in technology and manufacturing, and expand internationally. Maheshwari highlighted the significance of the omnichannel model and the growth potential in both online and offline retail. The company's brand aggregator platform, Globalbees, also showed positive financial performance.

GlobalBees faces insolvency plea from directors of Kuber Industries

EntrackrEntrackr · 3m ago
GlobalBees faces insolvency plea from directors of Kuber Industries
Medial

GlobalBees Brands Private Limited, a subsidiary of Brainbees Solutions Ltd (which owns FirstCry), is facing an insolvency plea at the National Company Law Tribunal (NCLT), New Delhi. Ashutosh Garg, Paritosh Garg, and Manju Agarwal, the directors of Kuber Mart Industries, have approached the NCLT, New Delhi bench, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) over an alleged default of Rs 64.92 crore. The claim includes interest at 18% per annum from May 9, 2025, until the date of actual payment. Notably, GlobalBees is an investor in Kuber Mart Industries, having infused Rs 50 crore in June 2022. The application is currently at the admission stage. According to a regulatory filing made by Brainbees on June 17, Globalbees is actively pursuing legal counsel and taking steps to oppose the petition, including contesting its admission. “The financial implication on the company cannot be ascertained and is contingent upon the final outcome of the said proceedings and subsequent legal challenges,” the filing stated. Over the past few months, GlobalBees saw the resignation of three board representatives, including Harsha Deepak Kumar (Lightspeed), Sudhir Kumar Sethi (Chiratae Ventures), and Kaveesh Chawla (Premji Invest). The company’s chief executive, Nitin Agarwal, also stepped down from his role due to personal reasons. Agarwal was replaced by Anuj Jain, who joined the firm as the new CEO. Globalbees was launched in 2021 as a Thrasio-style roll-up venture focused on acquiring and scaling digital-first consumer brands across categories like personal care, home, and nutrition. It has raised over $270 million in funding with the likes of SoftBank, Lightspeed, and Avendus. In FY25, FirstCry group reported Rs 7,660 crore in revenue from operations while GlobalBees contributed Rs 1,577 crore (over 20%) to the total revenue.

FirstCry parent records Rs 1,863 Cr revenue, Rs 75 Cr EBITDA in Q1 FY26

EntrackrEntrackr · 1m ago
FirstCry parent records Rs 1,863 Cr revenue, Rs 75 Cr EBITDA in Q1 FY26
Medial

Brainbees Solutions, the parent of kids-focused omnichannel retailer FirstCry, reported a 13% year-on-year rise in revenue and a 13% reduction in losses for the quarter ending June 2025. FirstCry's revenue from operations grew to Rs 1,862.56 crore in Q1 FY26 from Rs 1,652 crore in Q1 FY25, its unaudited financial statements sourced from the National Stock Exchange (NSE) show. The sale of its products through offline stores and websites in India and the international market was the primary source of revenue, accounting for nearly 77.55% of total operating revenue, while its subsidiary, GlobalBees, contributed Rs 426 crore. The company also made Rs 49 crore from interest income which took its overall revenue to Rs 1,911 crore in Q1 FY26, compared to Rs 1,679 crore in Q1 FY25. For the omnichannel retailer, the cost of procurement of materials accounted for 58% of the overall expenditure which increased 11% year-on-year to Rs 1,145 crore in Q1 FY26 from Rs 1,029 crore in Q1 FY25. FirstCry’s employee benefits stood at Rs 203 crore in Q1 FY26 which includes Rs 60 crore as ESOP cost. The marketing, legal, rent, and technology were other overheads that pushed the overall expenditure to Rs 1,971 crore in Q1 FY26. The decent scale and controlled expenditure helped FirstCry to reduce its losses by 13% to Rs 66.5 crore in Q1 FY26. Notably, the company reported a positive EBITDA of Rs 75 crore. On a unit basis, the company spent Rs 1.06 to earn a Rupee of operating revenue in Q1 FY26. At the end of today’s trading session, FirstCry’s share price stood at Rs 375.35 per share, with a total market capitalization of Rs 19,586 crore (approximately $2.2 billion).

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