PDS Limited Raises INR 430 Cr in QIP to Fuel Global Expansion and Innovation With the raised funds, the Mumbai-based company aims to accelerate its growth journey of expanding into new markets and categories, as well as diversifying its sourcing regions through brownfield investments, all while maintaining a robust balance sheet.
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PDS Limited has announced the successful completion of its Qualified Institutions Placement (QIP), raising INR 430 crore (around USD 51 million).
The QIP attracted robust interest from institutional investors, with a subscription exceeding twice the issue size.
The raised funds will be pivotal in accelerating PDS Limited's growth trajectory. The company plans to expand into new markets and categories while diversifying its sourcing regions through brownfield investments. This strategic approach aims to enhance its global footprint while maintaining a strong balance sheet.
Pallak Seth, Executive Vice Chairman of PDS Limited, said, "We are immensely pleased with the enthusiastic response to our QIP, especially as this marks our first fundraise since demerger, with participation from a diverse range of institutional investors. This funding will be pivotal in propelling our expansion efforts, driving innovation, and expanding our global footprint into new and exciting markets."
Sanjay Jain, Group CEO of PDS Limited, added, "We are delighted with the strong response to our QIP, which not only strengthens our balance sheet but also fuels our growth opportunities. Furthermore, this fundraise helps institutionalize our capital structure with the participation of leading marquee long-term investors."
Established in 1999, PDS Limited is a global fashion infrastructure platform specializing in product development, sourcing, manufacturing, and distribution for major brands and retailers worldwide.
The Mumbai-based firm operates across over 90 locations in more than 20 countries, with a workforce of over 4,200 employees and more than 6,000 factory associates.
For FY24, PDS reported consolidated revenues of INR 10,370 crore. The company is listed on BSE Ltd and the National Stock Exchange of India Ltd.
