Monitoring Agency Report issued by ICRA Limited (Monitoring Agency), in respect to utilization of the proceeds raised through issuance of equity shares by way of Public Issue of the Company for the quarter ended March 31, 2025.
FIRSTCRY · price
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Brainbees Solutions (FirstCry) has filed the ICRA Monitoring Agency Report for IPO proceeds for the quarter ended March 31, 2025. The company raised ₹4,193.728 crore through its IPO (August 6-8, 2024), with net proceeds of ₹1,601.735 crore (excluding issue-related expenses). ICRA monitored ₹1,666 crore of these proceeds, of which ₹1,200.444 crore has been utilized and ₹465.556 crore remains unutilized. The unutilized amount is parked in fixed deposits with HDFC Bank, Kotak Mahindra Bank, and Axis Bank, earning 7.45-7.81% interest. Major deployment areas include setting up new stores (BabyHug and FirstCry brands), investments in subsidiaries Digitalge and Globalbees, sales & marketing, and technology. The largest allocation of ₹518.735 crore is earmarked for inorganic growth through acquisitions, of which ₹394.104 crore has been used so far. No deviations from the stated objects were observed, and implementation is on schedule for FY25-FY27.
This is a routine compliance filing showing the company is on track with its IPO deployment plan with no deviations or material concerns. Investors should note that ~29% of net proceeds remain unutilized but are safely parked in fixed deposits, and the full deployment timeline extends through FY27.