Synopsis
Brainbees Solutions’ subsidiary, Globalbees Brands, has raised its stake in Candes Technology from 62% to 92% by buying an additional 30% for Rs 37,250 per share. The deal was completed on March 31, 2026. Brainbees saw Q3 FY26 losses rise to Rs 38 crore amid higher expenses.The deal was carried out as a cash transaction worth Rs 37,250 per share, through which Globalbees acquired an extra 30% shareholding from existing shareholders of Candes Technology. Following this transaction, Globalbees’ stake in the company has increased from 62% to 92%.
Candes, incorporated on January 25, 2021, retails electronics, electrical instruments, and audio-visual goods.
The acquisition, which was completed on March 31, 2026, considerably strengthens Globalbees’ control over the electronics business.
The company also clarified that the deal is not a related-party transaction, and no approvals from government or regulatory authorities were needed for its completion. (A related party transaction is a deal between a company and a party connected to it, such as its subsidiaries, promoters, or key management.)
In the third quarter of FY26, Brainbees Solutions reported a sharp rise in its net loss to Rs 38 crore, from Rs 14.7 crore in the same period last year. The increase was mainly due to higher expenses linked to the expansion of its rapid-delivery services.
The Pune-based company recorded 11.6% year-on-year growth in operating revenue, reaching Rs 2,423 crore in the December quarter, up from Rs 2,172 crore a year earlier. However, its expenses also increased by 12.7%, rising to Rs 2,327 crore from Rs 2,064 crore.
