Brainbees Solutions Limited has submitted the Monitoring Agency Report for the quarter ended December 31, 2025, confirming the utilization of proceeds from its Initial Public Offer. The report, prepared by ICRA Limited, indicates no deviation from the stated objects of the issue. Total proceeds utilized for specified objects up to this quarter stand at ₹839.317 crore against the initial proposed amount of ₹1,666.000 crore.
Monitoring Agency Report Submission for Q3 FY2026
Brainbees Solutions Limited has disclosed the utilization status of funds raised via its Initial Public Offer, covering the quarter ending December 31, 2025. The required Monitoring Agency Report, issued by ICRA Limited, confirms that the utilization of proceeds remains in line with the declared objects of the issue, with no material deviation observed.
IPO Details Recap
The company’s IPO, which was an Initial Public Offer of Equity shares, had an issue period from August 6, 2024, to August 8, 2024. The total Issue Size amounted to ₹4,193.728 Crore, with the Net Proceeds (excluding Issue Related Expenses) being INR 1,601.735 Crore for the portion monitored by the Agency.
Utilization of Specified Objects (Q3 FY2026)
As of the end of the quarter, the total utilization against the specified objects was ₹839.317 crore out of the aggregate proposed amount of ₹1,666.000 crore (as detailed in the monitoring report). The unutilized balance at the end of the quarter stood at ₹826.683 crore.
Key Utilization Highlights:
- Expenditure by Company: Utilization for setting up modern stores (BabyHug) and warehouses amounted to ₹23.956 crore.
- Investment in Digital Age (Subsidiary): A total of ₹126.430 crore was utilized for setting up new modern stores and lease payments.
- Investment in FirstCry Trading (Subsidiary): Utilization for overseas expansion, including new modern stores and warehouses, totaled ₹11.328 crore.
- Investment in Globalbees Brands (Subsidiary): The acquisition of additional stake in step-down subsidiaries saw ₹104.811 crore utilized.
- Sales and Marketing/Technology Costs: Utilization for Sales and Marketing initiatives reached ₹164.780 crore, while Technology and Data Science costs utilized ₹39.206 crore.
The Monitoring Agency noted that for several expenditure heads, the company has taken reimbursement from internal accruals for expenses incurred earlier in Q3 FY2026 (and prior quarters), impacting the drawdowns from the IPO proceeds in the current reporting period.
General Corporate Purposes (GCP) Utilization
Total proceeds utilized for General Corporate Purposes (GCP) as detailed in the offer document amounted to ₹254.061 crore. This utilization primarily covered various rental payments, investments by Globalbees, and a payment to Facebook India during the period.
Deployment of Unutilized Proceeds
The unutilized proceeds totaling ₹904.392 crore (as per management certification) were deployed across various instruments as of December 31, 2025. The deployment is highly focused on secured, short-to-medium term instruments:
- Fixed Deposits: Substantial amounts are held in Fixed Deposits with HDFC Bank (totaling ₹665.737 crore) and Kotak Bank (totaling ₹220.000 crore).
- Total Earning: The total earning on these deployed funds up to the quarter end reached ₹22.002 crore.
Implementation Schedule Status
Regarding project timelines, all outlined objects of the issue across all investment categories currently show a completion schedule of On Schedule*, spanning the projected period of FY25-FY27. The management has confirmed that no delays affecting the implementation of the objects were noted during this monitoring period.
Source: BSE
