Brainbees Solutions Limited has announced that its material subsidiary, Globalbees Brands Private Limited, has made substantial investments in two of its step-down subsidiaries: Frootle India Private Limited and Wellspire India Private Limited.
Globalbees Brands has invested ₹105.15 crore in Frootle India and ₹1.05 crore in Wellspire India. These investments are aimed at increasing Globalbees’ stake in these companies, thereby expanding its presence in the home and kitchen appliances sector.
Frootle India Private Limited, which operates in the home and kitchen appliances industry, has a turnover of ₹309.72 crores and a net worth of ₹92.95 crores. The investment will boost Globalbees’ ownership in Frootle India from 51% to 74%. This move is in line with the Shareholder’s Agreement dated April 23, 2022, and is consistent with the objectives outlined in the Company’s Prospectus dated August 9, 2024. Frootle India markets a range of home and kitchen products under the brand name, Frootle.
Wellspire India Private Limited, also part of the home and kitchen appliances sector, has a turnover of ₹15.49 crore and a net worth of -₹0.57 crore. The latest investment will increase Globalbees’ stake in Wellspire India from 51% to 74%. This investment aligns with the Shareholder’s Agreement dated April 23, 2022. Wellspire India offers a variety of products in the home and kitchen appliances category under the brand name, Wellspire.
These strategic investments highlight Globalbees’ commitment to expanding its portfolio and enhancing its market position within the home and kitchen appliances industry.
Brainbees Solutions Limited provides products for babies, mothers, and kids through its online platform ‘FirstCry’.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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