FirstCry's GlobalBees takes full control of Cloud Lifestyle with Rs 60.29 lakh stake buy
With this acquisition, Cloud Lifestyle, which deals in personal care, beauty, and wellness products, will become a wholly owned subsidiary of GlobalBees.
According to the company filing, the acquisition announced on August 14, 2025, was executed via cash transaction under the terms of an earlier investment agreement dated November 12, 2021. Cloud Lifestyle, incorporated in 2017, reported a turnover of Rs 55.35 crore in FY25 compared to Rs 13.07 crore in the previous year.
Meanwhile, FirstCry reported a subdued performance for the quarter ended March 31, with its consolidated net loss widening 2.5 times year-on-year (YoY) to Rs 111.5 crore, compared to Rs 43 crore in the same period last year. FirstCry's house-of-brands subsidiary, GlobalBees, which recently faced legal hurdles, reported a 31% rise in operating revenue to Rs 426.5 crore. Its international business grew 13% YoY to Rs 207.3 crore.
FirstCry's board has approved an additional investment of Rs 19.96 crore in GlobalBees as part of the IPO proceeds utilisation. Earlier, it had cleared an investment of up to Rs 146 crore in GlobalBees through the subscription of compulsorily convertible preference shares (CCPS).
Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Tariffs, tantrums, and tech: How Trump's trade drama is keeping Indian IT on tenterhooks
Good, bad, ugly: How will higher ethanol in petrol play out for you?
As big fat Indian wedding slims to budget, Manyavar loses lustre
As 50% US tariff looms, 6 key steps that can safeguard Indian economy
Stock Radar: JSPL forms Ascending Triangle pattern on weekly charts, could hit fresh 52-week high soon
Nifty and business are different species: 5 small-cap stocks from different sectors with upside potential of up to 30%
F&O Radar | Deploy Bear Put Spread in Nifty to play index's negative stance amid volatility
Wealth creation: Look beyond the obvious in some things; 10 fertilizer sector companies worth watching
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
30 minutes ago
- Business Standard
Wang to meet PM Modi during two-day visit, holds talks with Jaishankar
During his two-day visit, Chinese Foreign Minister Wang Yi will hold bilateral talks with his Indian counterpart, S. Jaishankar, on Monday evening to lay the groundwork for Prime Minister Narendra Modi's visit to China later this month. Wang will also hold the 24th round of Special Representatives (SR) dialogue on the boundary issue with National Security Adviser (NSA) Ajit Doval on Tuesday. Later in the evening, Wang will call on Modi. Both Wang and Doval are designated special representatives for the boundary talks. Some of the issues likely to be discussed during Wang and Jaishankar's meeting include further de-escalation on the border, resumption of direct flight services, and border trade through all the designated trade points — Lipulekh Pass in Uttarakhand, Shipki La Pass in Himachal Pradesh, and Nathula Pass in Sikkim. According to the Ministry of External Affairs (MEA), Wang will call on PM Modi at his 7 Lok Kalyan Marg residence at 5:30 pm on Tuesday. The PM will travel to Tianjin, China, to attend the Shanghai Cooperation Organisation (SCO) Summit on August 31 and September 1, after his visit to Japan starting on August 29. In Tianjin, Modi is scheduled to hold a bilateral meeting with Chinese President Xi Jinping on the sidelines of the summit. NSA Doval had travelled to China in December last year and held the SR talks with Wang. Since then, Jaishankar has met Wang on the sidelines of multilateral forums, including a meeting in Beijing in July, while Doval last met Wang in June. The Modi-Xi meeting in Kazan on October 23, 2024, helped overcome friction after the Galwan Valley military clashes of June 2020, paving the way for the normalisation of ties between the two countries, including a disengagement pact for Depsang and Demchok.
Time of India
43 minutes ago
- Time of India
India confident of meeting fiscal deficit target, despite planned tax cuts
India is confident of meeting its fiscal deficit target of 4.4% for the current fiscal year, according to a government source with knowledge of the matter, despite its plans to cut consumption tax later this year. Independence Day 2025 Modi signals new push for tech independence with local chips Before Trump, British used tariffs to kill Indian textile Bank of Azad Hind: When Netaji Subhas Chandra Bose gave India its own currency In the biggest tax overhaul since 2017, Prime Minister Narendra Modi on Saturday announced sweeping changes to the complex goods and services tax (GST) regime which will make daily essentials and electronics cheaper. "India's federal and state governments have options to offset any loss of revenue due to lowering of rates," the government source said without providing further details. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Undo The source also said it will end the practice of collecting compensation cess by December. The GST compensation cess is an additional levy imposed on certain items to compensate states for any revenue loss incurred due to the implementation. India's finance ministry did not respond to a request for comment sent outside of office hours.
Time of India
44 minutes ago
- Time of India
Steel safeguard duty: DGTR backs 3-year levy on flat steel imports, industry groups divided
The commerce ministry's investigation arm has recommended a three-year safeguard duty on imports of certain flat steel products, citing a sudden surge in shipments that threatened serious injury to domestic producers, PTI reported. In its final findings, the Directorate General of Trade Remedies (DGTR) said it observed "a recent, sudden, sharp and significant increase in imports of the product under consideration" and proposed a phased duty — 12 per cent in the first year, 11.5 per cent in the second, and 11 per cent in the third. The move follows a provisional 12 per cent safeguard duty imposed in April for 200 days. The recommendation came after a complaint by the Indian Steel Association, whose members include ArcelorMittal Nippon Steel India, JSW Steel, Jindal Steel and Power and Steel Authority of India. The association argued that the surge in non-alloy and alloy flat steel imports was causing and threatening to cause serious injury to Indian manufacturers. DGTR said it had considered the "current serious injury" to domestic producers along with the "imminent threat of injury" from continued imports before recommending the final safeguard duty, according to PTI. However, trade policy think tank GTRI criticised the move, noting that DGTR had rejected objections from more than 250 stakeholders, including major automakers and electronics firms. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Could This NEW Collagen Blend Finally Reduce Your Cellulite? Vitauthority Learn More Undo "Imposition of final safeguard duty would raise input costs, hurt export competitiveness, and squeeze downstream users," GTRI founder Ajay Srivastava said. The think tank said the probe, launched in December 2024, covered hot-rolled, cold-rolled, metallic and colour-coated steel. It noted that Chinese exports of these products rose 25 per cent in 2024 to 110.7 million tonnes, much of which was redirected to India. GTRI argued that the increase in imports was predictable rather than sudden, that domestic industry injury was overstated, and that duties would damage key user industries including autos, engineering and construction. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
