Brainbees Solutions Ltd., the parent of ecommerce platform FirstCry, will invest Rs 19.96 crore in its material subsidiary Globalbees Brands Pvt. Ltd., according to a regulatory filing.
The move follows a Rs 73 crore tranche in April that raised Brainbees’ stake in Globalbees from 50.73% to 51.12%. Both investments are part of a Rs 146 crore commitment announced in March to support Globalbees’ expansion across digital-first consumer categories.
GlobalBees operates on a Thrasio-style model focused on acquiring and scaling smaller ecommerce brands, with Brainbees holding a 50.73% stake.
“On the exit or monetisation path, the most probable outcome will be a listing of GlobalBees, which will be decided by the company and its shareholders over a period of time. Brainbees will find its monetization opportunity over the next few years,” shared Supam Maheshwari, Supam Maheshwari is the Co-Founder and CEO of FirstCry in a post earnings call with analysts.
The segment reported a 31% increase in revenue to Rs 426.4 crore in the June quarter, compared with Rs 324.4 crore last year. It marginally widened its losses to Rs 20.8 crore during the quarter from Rs 19.6 crore last year, however, its bottom line improved on a sequential basis from Rs 23.4 crore in the March quarter.
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In September last year, Globalbees raised its stakes in two other Brainbees subsidiaries, Frootle India Pvt. Ltd. and Wellspire India Pvt. Ltd.,to 74% each. Since its launch, the company has acquired more than a dozen brands, including Reach, The Butternut Company, Yellow Chimes, Absorbia, and Prolixr.
“On the acquisitions, there is nothing on the cards right now. The focus is on consolidation and financial prudence, and we believe the existing portfolio can deliver the current margin profile,” said Anuj Jain, CEO at GlobalBees on the segment’s current focus on rationalisation of its portfolio, which it plans to complete by the end of this financial year.
Globalbees, incorporated in 2021, scales e-commerce-led labels in beauty, home, kitchen, sports, lifestyle, and electronics. It posted revenue of Rs 1,577.70 crore in FY25, up from Rs 897.18 crore two years earlier, with a net worth of Rs 1,011.13 crore.
The funding will be drawn from IPO proceeds earmarked for subsidiary growth and is expected to be completed within two months. The company has so far deployed over Rs 84 crore from IPO proceeds into Globalbees before the current tranche.
Edited by Affirunisa Kankudti
