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Brainbees Solutions Limited — Capital/Financing Update 2024
Sep 30, 2024
59158_rns_2024-09-30_6f474883-16ad-4b9b-af2e-50e9e71501be.pdf
Capital/Financing Update
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FC/SE/2024-25/16 September 30, 2024
National Stock Exchange of India Limited Exchange Plaza, C – 1, Block G, Bandra-Kurla Complex, Bandra (E), Mumbai-400051 Symbol: FIRSTCRY
BSE Limited
Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001 Scrip Code: 544226
Subject: Disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Ref: Intimation of acquisitions made by the Globalbees Brands Private Limited, a material subsidiary of the Brainbees Solutions Limited (the Company)
Dear Sir/Ma’am,
Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’), we hereby inform that pursuant to the Shareholders’ Agreement dated 17[th] November 2021, Globalbees Brands Private Limited, a material subsidiary of the Company has made further investments of Rs. 8 crores in Butternut Ventures Private Limited, step down subsidiary of the Company.
The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated 13th July 2023 are given as under: -
| Sr. No. | Details of event | Information of such event |
|---|---|---|
| a) | name of the target entity, details in briefsuch as size, turnover etc.; | Butternut Ventures Private LimitedLatest Financial Parameters:Turnover: INR 11.14 croresNet worth: INR 5.8 crores |
| b) | whether the acquisition would fall withinrelated party transaction(s) and whether thepromoter/promotergroup/groupcompanies have any interest in the entitybeing acquired? If yes, nature of interest anddetails thereof and whether the same isdone at “arm’s length”; | Yes, the same is at arm’s length and thegroup companies have no interest inButternut Ventures Private Limited except tothe extent of their shareholding. |
| c) | industry to which the entity being acquiredbelongs; | Food Industry |
Brainbees Solutions Limited CIN: L51100PN2010PLC136340
Corporate/Registered Office :- Rajashree Business Park, Plot No. 114, Survey No. 338, Tadiwala Road, Nr. Sohrab Hall, Pune – 411001 Contact: +91-8482989157 Email Id :[email protected] Website : www.firstcry.com
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| Sr. No. | Details of event | Information of such event |
|---|---|---|
| d) | objects and impact of acquisition (includingbut not limited to, disclosure of reasons foracquisition of target entity, if its business isoutside the main line of business of thelisted entity); | Acquisition of further stake in subsidiaryButternut Ventures Private Limited byGlobalBees Brands Private Limited pursuantto the Shareholders Agreement dated 17thNovember 2021 |
| e) | brief details of any governmental orregulatory approvals required for theacquisition; | NA |
| f) | indicative time period for completion of theacquisition; | - |
| g) | consideration - whether cash considerationor share swap or any other form and detailsof the same; | Cash |
| h) | cost of acquisition and/or the price at whichthe shares are acquired; | INR 8 Crores |
| i) | percentage of shareholding / controlacquired and / or number of sharesacquired; | 24% |
| j) | brief background about the entity acquiredin terms of products/line of businessacquired, date of incorporation, history oflast 3 years turnover, country in which theacquired entity has presence and any othersignificant information (in brief); | Butternut Ventures Private Limited deals inhealthy food products under the brand name"The Butternut Company"**Date of Incorporation:**31/08/2020Country in which the acquired entity has**presence:**IndiaHistory of last 3 years turnover:**2023-24:**INR 11.14 crores**2022-23:**INR 7.1 crores**2021-22:**INR 2.01 crores |
For Brainbees Solutions Limited
NEELAM Digitally signed by NEELAM SITALDAS SITALDAS JETHANI JETHANI Date: 2024.09.30 17:54:16 +05'30'
Neelam Jethani Company Secretary & Compliance Officer ICSI Membership No.: A35831
Brainbees Solutions Limited
CIN: L51100PN2010PLC136340
Corporate/Registered Office :- Rajashree Business Park, Plot No. 114, Survey No. 338, Tadiwala Road, Nr. Sohrab Hall, Pune – 411001 Contact: +91-8482989157 Email Id :[email protected] Website : www.firstcry.com