Brainbees Solutions has made an investment of Rs 73 crore in its subsidiary -- Globalbees Brands (Globalbees) through first Tranche Series C2 Compulsory Convertible Preference Shares (CCPS). In regards to this, the Globalbees has allotted 2,220 Series C2 CCPS of face value of Rs 5 each at a premium of Rs 3,28,845 each to the company.
Consequently, the company will hold 87,059 shares of Globalbees and its shareholding in Globalbees will increase from 50.73% to 51.12% on fully diluted basis. As part of Series C2 CCPS issuance, Globalbees has allotted total of 3,041 Series C2 CCPS for an aggregate consideration of Rs 100 crore to its existing shareholders.
Brainbees Solutions offers products for mothers, babies, and Kids via its online platform 'FirstCry'.
