FirstCry’s rollup subsidiary GlobalBees has announced its decision to acquire an additional 14.91% stake in Dynamic IT Solutions Private Limited, the parent company of sports equipment brand Strauss. The all cash transaction, valued at INR 1.5 crore, will elevate GlobalBees’ ownership from 75% to 89.91%, marking a significant step toward near complete control of the sports and fitness brand.
According to regulatory filings, the transaction involves acquiring shares from existing stakeholders of Dynamic IT Solutions, with completion expected by October 30, 2025. This represents GlobalBees’ second investment in the company, following an initial stake acquisition for INR 4.5 crore in September 2024.
Portfolio Consolidation Strategy
The Strauss acquisition aligns with GlobalBees’ ongoing strategy of consolidating ownership across its portfolio companies. Recent months have witnessed similar moves, including an INR 8.9 crore capital infusion in HealthyHey Foods that increased its stake to 79.6%, and a 10% acquisition in beauty and personal care venture Cloud Lifestyle Private Limited for INR 60.3 lakh in August.
These investments follow FirstCry’s substantial INR 166 crore capital injection into GlobalBees last month, which increased the parent company’s shareholding from 51.51% to 51.68% on a fully diluted basis.
Financial Performance and Challenges
Dynamic IT Solutions, which operates in designing, developing, trading and supplying software, sports and fitness accessories under the Strauss brand, has experienced notable revenue fluctuations. The company’s turnover declined sharply from INR 27.4 crore in FY24 to INR 11.9 crore in FY25, compared to INR 23.3 crore in FY23.
Meanwhile, GlobalBees itself faces operational headwinds. The rollup firm reported a 6% year on year increase in net losses to INR 20.8 crore during Q1 FY26, despite achieving 31% revenue growth to INR 426.5 crore. FirstCry attributed the performance to narrowing margins due to brand rationalization during the quarter.
Additionally, GlobalBees is navigating significant organizational changes, including CEO Nitin Aggarwal’s departure in April due to personal reasons, and resignations from three directors representing major investors Lightspeed India Partners, Chiratae Ventures, and Premji Invest. The company also faces an ongoing insolvency plea involving INR 65 crore.
