Globalbees Brands Private Limited, a material subsidiary of Brainbees Solutions Limited (FirstCry), has acquired an additional 30% stake in Candes Technology Private Limited, a step-down subsidiary. This transaction increases Globalbees’ total shareholding in Candes from 62% to 92%. The acquisition was completed on March 31, 2026, for a total cost of INR 37,250/-. Candes specializes in electronics and audio-visual goods under the “Candes” brand.
Acquisition of Further Stake in Candes Technology
Brainbees Solutions Limited announces that its material subsidiary, Globalbees Brands Private Limited (“Globalbees”), has successfully completed the acquisition of a further stake in Candes Technology Private Limited, which is a step-down subsidiary of the Company.
This transaction was executed pursuant to a Securities Subscription and Purchase Agreement originally dated March 31, 2022. The acquisition was completed on March 31, 2026.
Details of Shareholding Increase
Globalbees acquired an additional 30% shareholding from other existing shareholders of Candes Technology Private Limited. Following this acquisition, the total shareholding of Globalbees in Candes Technology Private Limited has increased from 62% to 92%.
Candes Technology Profile
Candes Technology Private Limited was incorporated in India on January 25, 2021. It is engaged in the business of electronics, electrical instruments, and audio-visual goods, sold under the brand name “Candes”.
Historical and Latest Financial Parameters (Candes)
The filing provided the following financial summary for Candes Technology:
- Turnover History:
- 2024-25: INR 38.23 Crore
- 2023-24: INR 68.17 Crore
- 2022-23: INR 89.62 Crore
For the latest reported period (2024-25):
- Turnover: INR 38.23 Crore
- PAT (Profit After Tax): INR -18.65 Crore
- Net worth: INR -20.66 Crore
Transaction Cost and Structure
The consideration for this transaction was structured as Cash.
The total cost of the acquisition (price at which the shares were acquired) was INR 37,250/-.
The acquisition does not constitute a related party transaction, and group companies have no interest in Candes Technology Private Limited beyond their existing shareholding and common directorships.
Source: BSE
