PDS Ltd, a fashion sourcing and manufacturing platform, raised Rs 430 crore through a qualified institutional placement (QIP). The funds will be used for expansion and diversification.
New Delhi, Aug 28 (PTI) PDS Ltd, a fashion sourcing and manufacturing platform serving global leading brands and retailers, on Wednesday said it has raised Rs 430 crore through qualified institutional placement.
The company has successfully completed the QIP raising Rs 430 crore (around USD 51 million). The QIP attracted robust interest from institutional investors, with a subscription exceeding two times the issue size, PDS Ltd said in a statement.
"This fund raise enables PDS 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," the company said.
"This funding will be pivotal in propelling our expansion efforts, driving innovation, and expanding our global footprint into new and exciting markets," PDS Executive Vice Chairman Pallak Seth said.
PDS Ltd is a fashion infrastructure platform offering product development, sourcing, manufacturing, and distribution for major brands and retailers worldwide. It has a global network covering over 90 locations in more than 20 countries, with 4,200-plus employees and over 6,000 factory associates worldwide.
The company reported consolidated revenue of Rs 10,370 crore in FY24.
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