PDS Limited Completes ₹430 Crore QIP with Over 2x Subscription

On August 28, 2024, PDS Limited announced the successful completion of its Qualified Institutions Placement (QIP), raising ₹430 crore (approximately $51 million).

The company stated that the QIP saw significant interest from institutional investors, with the subscription surpassing twice the issue size. This strong response highlights investor confidence in PDS Limited’s strategic vision and growth prospects, reflecting the company’s robust business model, which has been refined for over 25 years.

They added that the funds raised will support PDS’s growth strategy, including expansion into new markets and categories, as well as diversification of sourcing regions through brownfield investments. The successful QIP strengthens PDS Limited’s balance sheet, positioning the company to accelerate its growth trajectory and capitalise on emerging opportunities.

This milestone underscores the resilience and vitality of PDS’s business model and its ongoing commitment to creating long-term value.

Commenting on this significant milestone, the Executive Vice Chairman of PDS Limited, Pallak Seth, 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 & exciting markets.”

The Group CEO, Sanjay Jain, said, “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 institutionalise our capital structure with the participation of leading marquee long-term investors.”

About PDS Limited

PDS is involved in the trading, investment holding, design, development, marketing, sourcing, and distribution of ready-made garments of all kinds and other consumer products worldwide. In Q1 FY 2025, the company’s revenue from operations stood at ₹2,621 crore, up by 24% from ₹2,115 crore in Q1 FY 2024. The profit after tax during the quarter ended June 2024 was ₹31 crore, increased from ₹23 crore in Q1 FY 2024.

On August 28, 2024, the share price of PDS Ltd opened at ₹609.50, touching the day’s low at ₹592.00, as of 10:22 AM on the NSE.

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