Brainbees Arm Globalbees Raises Stake in Candes to 92%

Brainbees Solutions, the parent company of mother-and-baby retailer FirstCry, has increased its stake in home appliances firm Candes Technology through its subsidiary Globalbees Brands.

The transaction, completed on March 31, 2026, involved the purchase of an additional 30% stake from existing shareholders at a price of INR 37,250 per share. Following the deal, Globalbees’ ownership in Candes has risen from 62% to 92%.

Candes Technology, founded in January 2021, operates in the home appliances segment, offering products such as fans, geysers, heaters and kitchen appliances under its brand. The company focuses on affordable smart electrical products aimed at value-conscious consumers.

The acquisition strengthens Globalbees’ presence in the electronics category, where it has been expanding its portfolio of digital-first brands.

Meanwhile, Brainbees Solutions reported a 12% year-on-year increase in revenue for the quarter ended December 2025. Revenue from operations rose to INR 2,424 crore in the third quarter of FY26, compared to INR 2,172 crore in the same period last year, according to unaudited financial results filed with the National Stock Exchange.

However, the company’s losses widened during the quarter. Net loss stood at INR 38 crore in Q3 FY26, up from INR 15 crore a year earlier. Expenses were largely driven by procurement costs, which accounted for 64% of total spending and increased to INR 1,580 crore. Employee benefit expenses reached INR 197 crore, including INR 57 crore in ESOP-related costs.