FirstCry parent Brainbees’ cash balance at Rs 450 crore as of June end, says group CFO Gautam Sharma

The company had said it would use the IPO proceeds to set up stores and warehouses and even expand presence into Saudi Arabia (KSA).

Brainbees Solutions, the company that runs FirstCry, had a cash balance of around Rs 450 crore at the end of the June quarter of the current fiscal, group chief financial officer Gautam Sharma said while discussing the company’s quarterly results for the first time since going public.

The Pune-based company posted a revenue of Rs 1,652 crore in Q1FY25, a 17 percent increase from Rs 1,407 crore generated in the same quarter last year. At the same time, the mother and baby products company saw its losses narrowing 31 percent from Rs 110 crore in Q1FY24 to Rs 76 crore in Q1FY25.

The company, which went public on August 13, had raised Rs 1,666 crore in primary capital during its IPO. At that time, the company had said it would use the proceeds to set up stores and warehouses and even expand presence into Saudi Arabia (KSA).

“We had Rs 450 crore at the end of June. The net proceeds, after adjustment of issue expenses and others, we got close to around Rs 1,600 crore. We’ve started utilising the cash…the number (cash balance) is pretty decent,” Sharma told analysts on August 30.

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