FirstCry Raises Holding in Globalbees to 51.51% with INR 73 Cr Infusion On September 11, the Pune-based firm subscribed to 2,220 Series C2 compulsory convertible preference shares at a face value of INR 5 each and a premium of INR 3,28,845 per share.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Omnichannel retailer FirstCry, operated by Brainbees Solutions Ltd, has invested INR 73 crore in its subsidiary Globalbees Brands Pvt. Ltd under the second tranche of the Series C2 funding round. The development was disclosed in a stock exchange filing.
On September 11, the Pune-based firm subscribed to 2,220 Series C2 compulsory convertible preference shares at a face value of INR 5 each and a premium of INR 3,28,845 per share. Following this transaction, FirstCry's stake in Globalbees increased slightly from 51.12 percent to 51.51 percent on a fully diluted basis.
The investment forms part of the board's approval to deploy up to INR 146 crore in Globalbees in one or more tranches. The latest tranche was executed under the Series C2 Share Subscription Agreement that was signed on March 30, 2025.
Alongside FirstCry's participation, Globalbees allotted a total of 3,041 Series C2 shares to existing shareholders, helping the company raise INR 100 crore in this tranche.
Meanwhile, FirstCry's operational performance has shown improvement. Revenue from operations rose to INR 1,862.56 crore in the first quarter of FY26 from INR 1,652 crore a year earlier. Losses narrowed by 13 percent to INR 66.5 crore, while the company reported a positive EBITDA of INR 75 crore.
