Globalbees Brands Private Limited Acquires Further Stake in Candes Technology Private Limited

Globalbees Brands Private Limited, a material subsidiary of Brainbees Solutions Ltd, has acquired a 30% additional shareholding in Candes Technology Private Limited, a step-down subsidiary of the company. The acquisition was made pursuant to the Securities Subscription and Purchase Agreement dated 31st March, 2022. This has increased Globalbees' shareholding from 62% to 92% in Candes Technology Private Limited. Candes Technology Private Limited is incorporated in India and is engaged in the business of all kinds of electronics, electrical instruments and audio-visual goods under the brand name ‘Candes’. The company's turnover for the last three years is as follows: 2024-25: INR 38.23 Crore, 2023-24: INR 68.17 Crore, and 2022-23: INR 89.62 Crore. The latest financial parameters for the year 2024-25 are: Turnover: INR 38.23 Crore, PAT: INR -18.65 Crore, and Net worth: INR -20.66 Crore.