FirstCry's Subsidiary Globalbees Acquires Additional 10% Stake in Plantex E-Commerce for INR 19.96 Crores
Globalbees Brands, a subsidiary of Brainbees Solutions (FirstCry), has acquired an additional 10% stake in Plantex E-Commerce for INR 19.96 crores. This increases Globalbees' shareholding in Plantex from 60% to 70%. Plantex, incorporated in 2020, operates in the kitchen and home utility products business under brands like Plantex, Impulse, and Planet. It reported a turnover of INR 170.85 crores and a net worth of INR 69.95 crores. In a separate move, Brainbees Solutions increased its ownership in Globalbees to 51.68% through a INR 19.96 crores investment in Series C3 CCPS.

*this image is generated using AI for illustrative purposes only.
Firstcry (Brainbees Solutions) has made significant moves in expanding its business portfolio. In a recent development, Globalbees Brands Private Limited, a material subsidiary of Brainbees Solutions Limited (FirstCry), has acquired an additional 10% stake in Plantex E-Commerce Private Limited for INR 19.96 crores in cash.
Acquisition Details
- Globalbees' shareholding in Plantex has increased from 60% to 70%
- The transaction was completed pursuant to a Shareholders Agreement dated September 02, 2022
- The acquisition was conducted at arm's length with no additional governmental or regulatory approvals required
About Plantex E-Commerce
- Incorporated in August 2020
- Engaged in kitchen and home utility products business
- Operates under brands including Plantex, Impulse, and Planet
- Reported a turnover of INR 170.85 crores and net worth of INR 69.95 crores
- Showed growth from INR 52.85 crores turnover in a previous period
Strategic Implications
This acquisition strengthens Globalbees' position in the home and kitchen products sector, potentially leading to:
- Enhanced market presence in the e-commerce space
- Diversification of product offerings
- Improved synergies between FirstCry's various subsidiaries
Brainbees Solutions' Expansion
In a separate but related development, Brainbees Solutions has also increased its ownership in Globalbees Brands, securing a majority stake of 51.68% through a recent investment of INR 19.96 crores. This was executed through a Series C3 allotment of Compulsorily Convertible Preference Shares (CCPS).
These strategic moves by Brainbees Solutions and its subsidiaries underscore the company's expansion strategy in India's e-commerce ecosystem. As FirstCry continues to strengthen its position across various sectors, the industry will be watching closely to see how these partnerships evolve and impact the broader market landscape.
Historical Stock Returns for Firstcry (Brainbees Solutions)
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
+0.05% | -0.40% | +4.75% | +3.50% | -39.58% | -42.55% |