PDS Limited has informed the Exchange about the Update on Acquistion.
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PDS Limited has completed the acquisition of a 55% equity stake in Knit Gallery India Private Limited through its wholly owned subsidiary NexStyle Apparel Manufacturing Limited, effective May 13, 2025. As a result, Knit Gallery has become a step-down subsidiary of PDS Limited. The company had originally entered into the Share Purchase Agreement and Shareholders' Agreement on January 28, 2025. This acquisition is aimed at strengthening PDS's manufacturing presence in India, improving regional sourcing efficiencies, and unlocking supply chain synergies. The deal is timed well with the recent India-UK Free Trade Agreement announcement, which is expected to support diversification of the company's sourcing footprint.
This acquisition expands PDS's manufacturing capabilities in the Indian apparel sector and could improve margins through better sourcing efficiencies. The India-UK FTA tailwind may further strengthen the strategic rationale, potentially supporting long-term growth for shareholders.