FirstCry Utilizes INR 111.362 Crore IPO Proceeds in Q3 FY26, Reports No Deviations
Brainbees Solutions Limited (FirstCry) utilized INR 111.362 crore of IPO proceeds in Q3 FY26, with total utilization reaching INR 839.317 crore out of INR 1,666.000 crore. Major spending included INR 31.492 crore on sales and marketing, INR 18.437 crore on Digital Age subsidiary investments, and INR 13.679 crore on store lease payments. ICRA Limited's monitoring report confirms no deviations from stated objectives, with all projects on schedule for FY25-FY27 completion. Unutilized funds of INR 826.683 crore are invested in fixed deposits earning 6.10% to 7.81% returns.
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Brainbees Solutions Limited has filed its monitoring agency report for the quarter ended December 31, 2025, providing detailed insights into the utilization of proceeds from its Initial Public Offer. The report, prepared by ICRA Limited as the monitoring agency, confirms that the company's fund deployment remains aligned with the stated objectives of the IPO.
IPO Proceeds Utilization Overview
During Q3 FY26, the company utilized INR 111.362 crore from its IPO proceeds, bringing the cumulative utilization to INR 839.317 crore. The total IPO proceeds being monitored amount to INR 1,666.000 crore, leaving INR 826.683 crore unutilized as of December 31, 2025.
| Utilization Status | Amount (INR Crore) |
|---|---|
| Total IPO Proceeds | 1,666.000 |
| Utilized (Beginning of Quarter) | 727.956 |
| Utilized (During Quarter) | 111.362 |
| Total Utilized | 839.317 |
| Remaining Unutilized | 826.683 |
Key Areas of Fund Deployment
The company's major expenditure during Q3 FY26 was concentrated across several strategic initiatives:
Sales and Marketing Initiatives received the highest allocation with INR 31.492 crore spent during the quarter, bringing total utilization in this category to INR 164.780 crore out of the allocated INR 200.000 crore.
Investment in Digital Age Subsidiary saw significant activity with INR 18.437 crore deployed during the quarter. This includes INR 5.065 crore for setting up new modern stores under the FirstCry brand and INR 13.372 crore for lease payments of existing stores.
Lease Payments for Company Stores accounted for INR 13.679 crore in Q3 FY26, with total utilization reaching INR 50.576 crore against the allocated INR 93.100 crore.
Investment of Unutilized Proceeds
The company has strategically invested its unutilized funds across various fixed deposits and bank accounts:
| Investment Type | Amount (INR Crore) | Maturity Date | Return Rate |
|---|---|---|---|
| HDFC Bank FD | 565.737 | 16-Aug-27 | 6.25% |
| HDFC Bank FD | 100.000 | 29-Mar-26 | 7.81% |
| Kotak Bank FD | 50.000 | 17-Oct-26 | 6.10% |
| Kotak Bank FD | 170.000 | 11-Mar-26 | 7.45% |
| Various Account Balances | 18.656 | - | - |
| Total Deployed | 904.392 |
The total market value of these investments, including accumulated interest of INR 22.002 crore, stands at INR 926.394 crore as of December 31, 2025.
General Corporate Purpose Utilization
Under the General Corporate Purpose category, the company spent INR 36.977 crore during Q3 FY26, primarily on:
- Office and warehouse rent: INR 15.729 crore
- Payment to Facebook India: INR 21.250 crore
- Other operational expenses
Total utilization under this category has reached INR 254.061 crore out of the allocated INR 518.735 crore.
Project Timeline and Compliance
ICRA Limited's monitoring report confirms that all projects remain on schedule for completion between FY25-FY27 as originally planned. The monitoring agency found no deviations from the objects of the issue, with all utilization proceeding as per the disclosures in the offer document.
The company's systematic approach to fund deployment, combined with prudent investment of unutilized proceeds in fixed deposits earning competitive returns, demonstrates disciplined capital management while maintaining flexibility for future strategic initiatives.
Historical Stock Returns for Firstcry (Brainbees Solutions)
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.25% | -2.60% | -19.20% | -46.47% | -41.25% | -68.38% |
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