Baby products retailer FirstCry invests Rs 73 crore in its subsidiary GlobalBees, raises stake to 51.51%

FirstCry, the omnichannel kidswear retailer, has completed its planned Rs 146 crore investment in its roll-up subsidiary GlobalBees Brands, nearly six months after first announcing the transaction.

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In a regulatory disclosure, the company said it invested Rs 73 crore in the second tranche of Series C2 compulsory convertible preference shares (CCPS), acquiring 2,220 shares with a face value of Rs 5 each, priced at a premium of about Rs 3.29 lakh per share.

With this, FirstCry’s fully diluted stake in GlobalBees has risen to 51.51%, from 51.12% earlier.

As part of the round, GlobalBees allotted a total of 3,041 Series C2 CCPS to existing shareholders, raising a little over Rs 100 crore. The company had earlier received the first Rs 73 crore tranche in April 2025, bringing FirstCry’s total infusion in line with its approved commitment.

GlobalBees, founded in 2021 as FirstCry’s ecommerce roll-up arm, houses a portfolio of consumer brands spanning home care (The Better Home), jewelry (Yellow Chimes), hair care (Rey Naturals) and food (The Butternut Company). More recently, it acquired a 10% stake in beauty and personal care startup Cloud Lifestyle for Rs 60 lakh.

Despite growth in revenue, GlobalBees continues to face challenges. For the quarter ended June, the company reported a 31% year-on-year jump in revenue to Rs 426.5 crore, while losses widened 6% to Rs 20.8 crore. FirstCry, in its own Q1 results, disclosed a narrower consolidated loss of Rs 66.5 crore compared with Rs 75.6 crore a year earlier, on operating revenue of Rs 1,862.6 crore, up 13% year-on-year.

FirstCry had earmarked Rs 169 crore from its Rs 1,601.7 crore IPO proceeds for GlobalBees, of which it has already deployed a large portion and committed a further Rs 20 crore in the near term.