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Brainbees Solutions Limited — Capital/Financing Update 2024
Sep 20, 2024
59158_rns_2024-09-20_122d4066-dd51-4869-8888-746591e72c6c.pdf
Capital/Financing Update
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FC/SE/2024-25/13 September 20, 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 Share Purchase and Subscription Agreement dated July 21, 2022, Globalbees Brands Private Limited, a material subsidiary of the Company has made further investments of Rs. 20.5 crores in JW Brands 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: -
| under: - | ||
|---|---|---|
| Sr. No. | Details of event | Information of such event |
| a) | name of the target entity, details in briefsuch as size, turnover etc.; | JW Brands Private LimitedLatest Financial Parameters:Turnover: INR 57.68 croresNet worth: INR 21.38 crores |
| b) | whether the acquisition would fall within | Yes, the same is at arm’s length and the |
| related party transaction(s) and whether the | group companies have no interest in JW | |
| promoter/promotergroup/group | Brands Private Limited except to the extent | |
| companies have any interest in the entity | of their shareholding. | |
| being acquired? If yes, nature of interest and | ||
| details thereof and whether the same is | ||
| done at “arm’s length”; |
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 |
|---|---|---|
| c) | industry to which the entity being acquiredbelongs; | Jewellery and Watches |
| 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 subsidiary JWBrands Private Limited by GlobalBees BrandsPrivate Limited pursuant to the SharePurchase and Subscription Agreement datedJuly21,2022 |
| 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 20.5 Crores |
| i) | percentage of shareholding / controlacquired and / or number of sharesacquired; | 19.32% |
| 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); | JW Brands Private Limited deals in sellingwatches and jewellery under the brands'Joker & Witch’, ‘Bewitched’ and ‘Teejh’.**Date of Incorporation:**07/02/2020Country in which the acquired entity has**presence:**IndiaHistory of last 3 years turnover:**2023-24:**INR 57.68 crores**2022-23:**INR 42.83 crores**2021-22:**INR 20.52 crores |
For Brainbees Solutions Limited
NEELAM Digitally signed by NEELAM SITALDAS SITALDAS JETHANI JETHANI Date: 2024.09.20 18:26:14 +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