Brainbees Solutions Limited Announces Acquisition of Additional Stake in Candes Technology Private Limited
Brainbees Solutions Limited announced that its material subsidiary, Globalbees Brands Private Limited, has acquired an additional stake in Candes Technology Private Limited on March 31, 2026. The acquisition was made pursuant to a Securities Subscription and Purchase Agreement dated March 31, 2022.Globalbees acquired a 30% additional shareholding from existing shareholders, increasing its stake in Candes Technology Private Limited from 62% to 92%. The total consideration for the acquisition was INR 37,250.
Candes Technology Private Limited, incorporated on January 25, 2021, operates under the brand name 'Candes' and deals in electronics, electrical instruments, and audio-visual goods. The company's turnover for the past three years is as follows:
| Year | Turnover (INR Crore) |
|---|---|
| 2024-2025 | 38.23 |
| 2023-2024 | 68.17 |
| 2022-2023 | 89.62 |
As of March 31, 2026, Candes Technology Private Limited reported a net worth of INR -20.66 Crore and a profit after tax of INR -18.65 Crore for the fiscal year 2024-2025. The acquisition does not constitute a related party transaction and no governmental or regulatory approvals were required.
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.