Monitoring Agency Report for the quarter ended March 31, 2026, on the utilisation of proceeds raised through issuance of equity shares by way of Public Issue of the Company.
FIRSTCRY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ICRA Limited, the monitoring agency, has confirmed that Brainbees Solutions (FirstCry) is utilizing its IPO proceeds in line with the disclosed objects of the issue. The company raised Rs. 1,666 crore through its IPO in August 2024 and has utilized Rs. 919.47 crore through Q4 FY2026 (March 2026), leaving Rs. 746.53 crore unutilized. No deviations or material changes were observed. Key utilization includes Rs. 189.19 crore on sales and marketing (95% deployed), Rs. 141.91 crore invested in Digital Age subsidiary for store expansion, and Rs. 104.81 crore in Globalbees Brands. The unutilized funds are parked in fixed deposits with HDFC Bank (Rs. 681.62 crore) and Kotak Bank (Rs. 171 crore), earning interest. All projects remain on schedule as per the offer document timelines of FY25-FY27.
This is a positive confirmation for shareholders - the IPO proceeds are being deployed as promised with no deviations. The significant unutilized balance (Rs. 746.53 crore) parked in FDs suggests planned future deployment for store expansion, overseas growth, and acquisitions. No red flags for governance-conscious investors.