PDS Ltd Raises Rs 430 Crore via QIP to Boost Global Expansion

PDS Ltd, a leading fashion sourcing and manufacturing platform, has raised Rs 430 crore through a qualified institutional placement. The funds will help the company expand into new markets and diversify its sourcing regions while maintaining financial stability. The placement saw strong interest, exceeding twice the issue size.

PDS Ltd, a prominent fashion sourcing and manufacturing platform, announced on Wednesday that it has successfully raised Rs 430 crore via a qualified institutional placement (QIP). The capital raise attracted significant interest from institutional investors, with subscriptions exceeding twice the offered amount.

The funds will enable PDS Ltd to accelerate its growth, expand into new markets, explore new categories, and diversify sourcing regions through brownfield investments, all while maintaining a robust balance sheet, according to a company statement.

'This funding will drive our expansion efforts, foster innovation, and broaden our global footprint into new and exciting markets,' stated Pallak Seth, Executive Vice Chairman of PDS Ltd. The company currently operates in over 90 locations in 20+ countries, employs more than 4,200 individuals, and works with over 6,000 factory associates globally.

(With inputs from agencies.)