Brainbees Solutions Limited has informed the Exchange about the acquisition of further stake in Candes Technology Private Limited by Globalbees Brands Private Limited, material subsidiary of the Company.
FIRSTCRY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Brainbees Solutions' material subsidiary, Globalbees Brands, has acquired an additional 30% stake in Candes Technology Private Limited, raising its shareholding from 62% to 92%. Candes, a step-down subsidiary, sells electronics and home appliances under the 'Candes' brand. The acquisition was completed on March 31, 2026, for cash consideration of INR 37,250. Candes has been struggling financially — its turnover fell from INR 89.62 Crore in FY23 to INR 38.23 Crore in FY25, with a loss of INR 18.65 Crore and a negative net worth of INR 20.66 Crore in FY25. The deal is not a related-party transaction and needs no regulatory approvals.
The acquisition consolidates Candes as a near-fully-owned step-down subsidiary, but given Candes' shrinking revenue and negative net worth, the financial impact on Brainbees shareholders is likely limited. The very low acquisition cost suggests this is more of a consolidation of an already-controlled, loss-making brand than a value-accretive deal.