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GlobalBees-Mush Textile stake sale: completion timeline extended to November 30, 2026

Timeline extended for GlobalBees' sale of its entire 51.54% stake in Mush Textile to Mr. Nihar Gosalia (13.45%) and Mr. Vaishvik Brahmbhatt (38.09%).

By ScoutQuest · Fri 16 Oct 2026, 11:46 PM IST · 2 min read

Stake Being Sold

entire 51.54% stake in Mush Textile

Aggregate Consideration

~Rs. 5.69 crore

Extended Completion Date

on or before November 30, 2026, from October 15, 2026

This is an update to a transaction that had already been announced. The deal itself is unchanged - only the date by which it is expected to be completed has moved.

What was earlier announced

• GlobalBees Brands Private Limited, a subsidiary of the company, had entered into a Memorandum of Understanding (MoU) on October 07, 2026 for the sale of its entire 51.54% shareholding in Mush Textile Private Limited.
• Mush Textile is a step-down subsidiary, meaning it sits one level below GlobalBees in the group structure.
• The buyers are Mr. Nihar Gosalia, an existing shareholder of Mush Textile, and Mr. Vaishvik Brahmbhatt. They agreed to acquire 13.45% and 38.09% of the shareholding respectively.
• The aggregate consideration agreed for the sale is ~Rs. 5.69 crore.
• The transaction was earlier proposed to be completed on or before October 15, 2026.

What has changed now

• At the request of the purchasers, the parties have executed an addendum to the MoU on October 16, 2026.
• The completion timeline has been mutually extended from October 15, 2026 to on or before November 30, 2026.
• All other terms and conditions of the MoU remain unchanged, except as amended by the addendum.

What to take away

• The buyers, the split of the stake between them and the consideration amount are unchanged. Only the completion date has moved.
• The sale is still described as a proposed transaction, so as of this update it has not been shown as completed.
• The stated reason for the extension is a request from the purchasers, and the extension itself means the parties now have more time to finish the process.

Terms explained

• MoU (Memorandum of Understanding): an agreement in which the parties set out the terms they have agreed on.
• Step-down subsidiary: a company held below the listed company's subsidiary.
• Addendum: an addition or change to an existing agreement.

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