The company had said it would use the IPO proceeds to set up stores and warehouses and even expand presence into Saudi Arabia (KSA).

Brainbees Solutions, the company that runs FirstCry, had a cash balance of around Rs 450 crore at the end of the June quarter of the current fiscal, group E-Commerce Services in Chandigarh chief financial officer Gautam Sharma said while discussing the company’s quarterly results for the first time since going public.

The Pune-based company posted a revenue of Rs 1,652 crore in Q1FY25, a 17 percent increase from Rs 1,407 crore generated in the same quarter last year. At the same time, the mother and baby products company saw its losses narrowing 31 percent from Rs 110 crore in Q1FY24 to Rs 76 crore in Q1FY25.

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