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FirstCry invests $17.1m in its ecommerce subsidiary
FirstCry has announced a capital investment of 146 crore rupee (US$17.08 million) in its ecommerce subsidiary, GlobalBees Brands Pvt Ltd. The investment will be made through the subscription to preference shares over the next 12 months.
On Apr. 4, FirstCry transferred the first tranche of 73 crore rupee (US$8.54 million), raising its shareholding in GlobalBees from 50.73% to 51.12%.
GlobalBees allotted 2,220 series C2 CCPS to FirstCry, with a face value of 5 rupee (US$0.06) and a premium of 3.28 lakh rupee (US$3,836) per share.
In total, the company issued 3,041 series C2 CCPS to existing shareholders, raising 100 crore rupee (US$11.7 million).
GlobalBees operates as a brand aggregator, managing direct-to-consumer brands in personal care, home care, fashion, and lifestyle. It competes with players like Mensa Brands and Upscalio.
Recent FirstCry developments
| Timeline |
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03-Mar-2025 👶 FirstCry chief of staff resigns after 10 years
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09-Feb-2025 🍼 FirstCry narrows Q3 loss by 69.5%, revenue up 14.3%
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23-Dec-2024 📉 India’s FirstCry parent shares drop almost 5%
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26-Apr-2024 🍼 FirstCry IPO delayed due to undisclosed metrics
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| 07-Mar-2024 👶 FirstCry tops in India baby ecommerce, but SEA players face a fragmented region |
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