Original vs. Revised Timeline
- Original Timeline: The investment was proposed to be completed on or before June 30, 2026.
- Revised Timeline: The company proposes to extend the timeline for completion to on or before July 31, 2026.
Current Status of Acquisition/Project
The proposed investment of an amount not exceeding AED 34 Million in Firstcry Management DWC LLC is still pending completion. The investment is to be funded from Initial Public Offer (IPO) proceeds.
Reason for Delay
The timeline extension is due to procedural delays.
Details of the Investment
- Target Entity: Firstcry Management DWC LLC (a wholly owned subsidiary of Brainbees Solutions Limited)
- Investment Amount: Not exceeding AED 34 Million
- Use of Funds:
- Further investment of not exceeding SAR 22 Million in Firstcry Trading Company, Kingdom of Saudi Arabia (a wholly owned subsidiary of Firstcry Management DWC LLC)
- The balance amount will be invested in Firstcry Retail DWC LLC, United Arab Emirates (a wholly owned subsidiary of Firstcry Management DWC LLC)
- Purpose: Business expansion