PDS to Buy Remaining 15% Stakes in Four Apparel Units

MT Newswires Live01-27

PDS (NSE:PDSL, BOM:538730) said its step-down subsidiaries have approved the acquisition of the remaining 15% equity stakes in four existing units from promoter Rakesh Chadha, effective Tuesday, for 28 million Indian rupees, according to a same-day Indian exchange filing.

The transactions involve acquiring the balance stake in Twins Asia, Design Arc FZCO, Twins Asia FZCO, and Design Arc UK, through PDS units, subject to regulatory approvals, the filing said.

Each apparel trading entity is currently 85% owned by the respective PDS subsidiaries.

PDS said the move is aimed at simplifying the group's shareholding structure and improving execution efficiency.

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