Stake sale · Commerce & Consumer Brands

Globalbees buys more stake in Candes Technology for Rs 43 crore

By Startup Enthusiast · 1 April 2026

What they do

Globalbees Brands makes home appliances like fans and geysers under the Candes brand

It bought a 30% stake from existing shareholders for Rs 43 crore to raise its holding to 92%

The cash deal was completed on March 31, 2026, at Rs 37,250 per share

Globalbees Brands acquired an additional 30% stake in Candes Technology for Rs 43 crore.
The transaction involved buying shares from existing shareholders.
This purchase increased Globalbees' total ownership in Candes from 62% to 92%.
The deal was executed as a cash transaction.
The price per share was fixed at Rs 37,250.
The acquisition was officially completed on March 31, 2026.
This move represents a secondary sale where no new money reached Candes.
Globalbees is consolidating control over its manufacturing arm through this buyout.

The company focuses on products like smart electrical items and kitchen appliances.
Globalbees aims to strengthen its supply chain and product offerings.
Increasing stake allows better operational alignment between parent and subsidiary.
The deal signals confidence in Candes' long-term business potential.

Candes Technology produces home appliances such as fans and geysers.
The brand sells smart electrical products and kitchen appliances directly to consumers.
The company was founded in January 2021 to serve this niche.
Candes operates as a key manufacturing entity within the Globalbees ecosystem.
The business model relies on volume sales of budget-friendly electronic goods.
It serves Indian households seeking cost-effective modern home solutions.
The brand leverages Globalbees' distribution network for wider market reach.