Private equity firm TPG has exited FirstCry’s parent company Brainbees Solutions by selling its entire 2.21% stake through a bulk deal worth about Rs 202 Cr. TPG, through its investment arm NewQuest Asia Investments III, sold around 1.2 Cr shares at Rs 175.15 apiece, according to NSE data.
The transaction took place on September 24, with the shares sold at a roughly 2.4% discount to FirstCry’s previous closing price. Goldman Sachs Investments Mauritius I bought 68 Lakh shares at Rs 175 apiece for around Rs 119 Cr, while the buyer of the remaining shares has not been disclosed.
TPG held the 2.21% stake at the end of the June 2026 quarter. The private equity firm first invested in FirstCry in 2021 and has been reducing its holding since the company went public in 2024.
The stake sale comes as FirstCry continues to operate as a loss-making company while working on improving its unit economics. In Q1 FY27, Brainbees Solutions reduced its net loss by 35% year-on-year to Rs 44 Cr from Rs 66.5 Cr, while operating revenue increased 13% to Rs 2,106.2 Cr.
The company continues to incur significant costs as it competes in its core categories and deals with supply-chain expenses. At the same time, its stock has remained under pressure, despite gaining 6.13% over the past week.
Separately, FirstCry’s subsidiary Swara Baby Products has filed a draft red herring prospectus with SEBI for a proposed Rs 1,000 Cr IPO. The issue is planned to include a fresh issue of up to Rs 500 Cr and an offer-for-sale component of up to Rs 500 Cr.
