PDS to Buy Remaining 15% Stakes in Four Apparel Units
MT Newswires Live
Jan 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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.