PDS Limited announced that its step-down subsidiaries have approved the proposal to initiate the secondary acquisition of the remaining 15% equity stake in four existing subsidiaries from Mr. Rakesh Chadha. This move, effective January 27, 2026, is subject to regulatory approvals in the respective jurisdictions. Norwest Industries Limited, Hong Kong, a wholly owned subsidiary, will acquire the remaining 15% stake in Twins Asia Limited, Hong Kong, increasing its holding to 100%. Similarly, PDS Multinational FZCO, UAE, will acquire the remaining 15% stake in Design Arc FZCO and Twins Asia FZCO, UAE, making them wholly owned subsidiaries. PDS Sourcing Limited, Mauritius, will also acquire the remaining 15% stake in Design Arc UK Limited, United Kingdom. Upon completion, these entities will become wholly-owned step-down subsidiaries of PDS Limited. The acquisition is intended to simplify the shareholding structure, consolidate ownership, and enable more efficient decision-making and execution of turnaround initiatives. The transaction involves a cash consideration of USD 3,08,174 (~ ₹2.80 Crore). The target entities are involved in the apparel trading industry, with turnovers for FY2024-25 ranging from USD 2.92 million (₹24.71 Crore) for Design Arc UK Limited to USD 20.75 million (₹175.52 Crore) for Twins Asia Limited, Hong Kong. The proposed acquisition falls within the purview of a related party transaction and is conducted on an arm's length basis.
