Subsidiary signs MoU to sell entire 51.54% stake in Mush Textile, which will cease to be a step-down subsidiary

GlobalBees Brands, a subsidiary, has signed a Memorandum of Understanding on October 07, 2026 to sell its entire 51.54% stake in Mush Textile, a step-down subsidiary.

Wed 7 Oct 2026

Aggregate Consideration

Rs. 5,68,93,940/-

Stake Sold

entire 51.54% stake in Mush Textile, a step-down subsidiary

Expected Completion Date

on or before October 15, 2026

What was announced

GlobalBees Brands Private Limited, a subsidiary of the company, has entered into a Memorandum of Understanding on October 07, 2026 for the sale of its entire 51.54% shareholding in Mush Textile Private Limited. Mush is a subsidiary of GlobalBees and a step-down subsidiary of the company. Upon completion of the transaction, Mush will cease to be a subsidiary of GlobalBees and, accordingly, will also cease to be a step-down subsidiary of the company.

Deal size and the buyers

• The aggregate consideration agreed for the sale of the stake in Mush is Rs. 5,68,93,940/-
• Mr. Nihar Gosalia, an existing shareholder of Mush, has agreed to acquire 13.45% shareholding
• Mr. Vaishvik Brahmbhatt has agreed to acquire 38.09% shareholding
• The company states it does not have an identifiable promoter or promoter group. Mr. Gosalia is not related to any of the group companies, except for his shareholding and directorship in Mush, and Mr. Vaishvik Brahmbhatt is not related to any of the group companies

How much this business contributes

• Turnover/revenue contributed by Mush during the financial year 2025-26: Rs. 11.34 Crore, a 0.13% contribution
• Net worth contributed by Mush during the financial year 2025-26: Rs. 2.09 Crore
• The transaction is for the brands "Mush" and "BePlush". These brands are sold through multiple subsidiaries of GlobalBees, with revenue recognised in those subsidiaries. Through all such subsidiaries combined, the brands generated turnover of approximately Rs. 16.12 Crore in the financial year 2025-26

Money and timing

• The sale consideration receivable by GlobalBees is in excess of the cost of acquisition of GlobalBees' investment in Mush. GlobalBees will recognise the resultant capital gain and discharge the applicable capital gain tax on it
• The shares will be transferred by GlobalBees upon receipt of the entire sale consideration
• The expected date of completion of the sale/disposal is on or before October 15, 2026

Other points in the disclosure

• The transaction falls within related party transactions and will be done on an arm's length basis
• The transaction is being undertaken outside any scheme of arrangement, and Regulation 37A of the LODR Regulations is stated as not applicable since Mush is not an undertaking under that regulation
• Slump sale disclosures: Not Applicable

How a retail investor can read this

The step-down subsidiary being sold is small relative to the company's overall revenue and net worth, based on the contribution figures given for financial year 2025-26. The transaction removes a step-down subsidiary from the group and the consideration receivable is stated to be above GlobalBees' cost of acquisition of the investment, resulting in a capital gain for GlobalBees. The transfer of shares is linked to receipt of the entire sale consideration, and completion is expected on or before October 15, 2026.

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