India, Sept. 19 -- Continuing its spree of investments in GlobalBees, kids-focussed omnichannel company FirstCry has now announced a further investment of about INR 20 Cr.

In an exchanges filing, the company informed that it has invested INR 19.96 Cr in the subsidiary for 89,886 shares. With this, its shareholding in the startup has now increased from 51.51% to 51.68% on a fully diluted basis.

The investment was originally made in the form of convertible loan and was due to be converted into Series C3 Compulsorily Convertible Preference Shares (CCPS) within a period of two months. Pursuant to the conversion, GlobalBees has to return a small difference of INR 21,000 between the loan value and the final allotment to its parent company.

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