GlobalBees To Acquire Another 15% Stake In Dynamic IT Solutions

Omnichannel kids marketplace FirstCry’s rollup arm GlobalBees has announced plans to further increase its stake in sports equipment brand Strauss’ parent Dynamic IT Solutions. 

In a filing with the exchanges, FirstCry said that GlobalBees has signed an agreement to acquire an additional 14.91% stake in an all-cash deal for INR 1.5 Cr. With this, the rollup company’s stake in Dynamic IT Solutions will increase to 89.91% from 75% previously. 

GlobalBees will acquire the stake in Strauss from the sports equipment brand’s existing shareholders. The listed company expects the deal to be completed by October 30.

“… GlobalBees agreed to acquire 14.91% additional shareholding from other existing shareholders of Dynamic IT Solution Private Limited. Pursuant to the said agreement, the shareholding of GlobalBees will be increased from 75% to 89.91% in Dynamic IT Solution Private Limited,” read the filing. 

Dynamic IT Solution Private Limited is in the business of designing, developing, trading and supplying software, sports and fitness accessories and other sports and fitness products under the brand name Strauss. In its filing with the exchanges, FirstCry said that Dynamic IT Solutions’ turnover stood at INR 11.9 Cr in FY25, down from INR 27.4 Cr in FY24 and INR 23.3 Cr in FY23. 

This comes a year after GlobalBees first picked up a stake in the sports equipment company for a sum of INR 4.5 Cr in September last year. 

Meanwhile, last month, the rollup company also infused INR 8.9 Cr to increase its stake in portfolio brand HealthyHey Foods to 79.6%. In August, GlobalBees also acquired a 10% stake in beauty and personal care startup Cloud Lifestyle Pvt Ltd for INR 60.3 Lakh. 

The acquisition spree follows FirstCry completing the infusion of INR 166 Cr in GlobalBees last month. With this, the former increased its shareholding in the rollup startup from 51.51% to 51.68% on a fully diluted basis.

FirstCry’s house of brands arm counts the likes of  home essentials brand The Better Home, jewellery startup Yellow Chimes, hair care brand Rey Naturals, The Butternut Company, among others, in its portfolio. 

On the financial front, GlobalBees’ net loss rose 6% YoY to INR 20.8 Cr in Q1 FY26 against a top line of INR 426.5 Cr, up 31% YoY. FirstCry attributed the lacklustre performance to narrowing margins due to the rationalisation of some unnamed brands during the quarter. 

Meanwhile, GlobalBees has been grappling with its share of challenges in the past year. The rollup brand is currently in the midst of an insolvency plea, involving an amount of INR 65 Cr. The company has also seen multiple top-level exits. 

In April, CEO Nitin Aggarwal left the company due to “personal reasons”, while three directors – Harsha Deepak Kumar (board representative of Lightspeed India Partners), Sudhir Kumar Sethi (board representative of Chiratae Ventures) and Kaveesh Chawla (board representative of Premji Invest) – have also resigned in the past year.