PDS Limited announced that its Hong Kong-based wholly owned subsidiary, Norwest Industries Limited, has acquired the remaining 15% equity stake in Jcraft Array Limited, Hong Kong. This transaction, effective January 1, 2026, increases PDS Limited's shareholding in Jcraft to 100%, making it a step-down wholly owned subsidiary.

The acquisition was approved by the relevant Hong Kong regulatory authority and formally communicated to PDS Limited on January 15, 2026. The stated objective of this acquisition is to simplify the shareholding structure, consolidate ownership, and enhance the efficiency of decision-making and the execution of turnaround initiatives.

Jcraft Array Limited, incorporated in Hong Kong on April 12, 2018, operates in the ready-made garment trading industry. Its issued share capital is US$50,000.00. The company reported a turnover of USD 914,001 (₹7.95 crore) for FY2024-25, USD 1,365,850 (₹11.88 crore) for FY2023-24, and USD 503,117 (₹4.38 crore) for FY2022-23. As of the reporting date, Jcraft had a networth of USD -489,957 (₹-4.26 crore).

The acquisition involved a cash consideration of USD 7,500 (₹0.07 crore). This transaction is considered a related party transaction and has been conducted on an arm's length basis, with no interest from the promoter, promoter group, or group companies in Jcraft.