PDS Limited filed a regulatory disclosure under SEBI Listing Regulation 30 regarding the acquisition of additional stake in its subsidiary.
Acquisition Details
PDS Sourcing Limited, Mauritius (a step-down wholly owned subsidiary of PDS Limited) has acquired the remaining 49% equity stake in DBS Lifestyle Limited, Hong Kong ("DBS Lifestyle HK") from Mr. Bhawnish Suri and Mrs. Divya Suri. The acquisition was effective from October 20, 2026.
Shareholding Change
Prior to this acquisition, PDS Sourcing held 51% of the equity share capital of DBS Lifestyle HK. Following the acquisition, the Company's shareholding in DBS Lifestyle HK (held through PDS Sourcing) has increased from 51% to 100%, making DBS Lifestyle HK a step-down wholly owned subsidiary of PDS Limited.
Target Entity Information
- Name: DBS Lifestyle Limited, Hong Kong
- Incorporation: December 8, 2022 under Hong Kong laws
- Industry: Garments & accessories in textile, fashion & apparel
- Share Capital: US$10,000 divided into 10,000 Ordinary shares
- Financial Performance:
- FY2025-26: Turnover ₹0.91 crore, PAT ₹0.12 crore, Net worth ₹0.16 crore
- FY2024-25: Nil turnover
- FY2023-24: Nil turnover
- Country of Presence: Hong Kong
Transaction Details
- Consideration: Cash consideration of USD 4,900 (approximately ₹465,059)
- Percentage Acquired: 49% stake
- Transaction Type: Not a related party transaction
- Promoter Interest: Promoter/Promoter Group/Group Companies have no interest in the entity being acquired
- Government Approvals: Not applicable
- Time Period: Not applicable
Purpose and Rationale
The acquisition is intended to simplify the shareholding structure, consolidate ownership, and enable more efficient decision-making and execution of turnaround initiatives.
Additional Corporate Action
The Company has initiated the process of changing the name of DBS Lifestyle HK to "PDS Sourcing HK Limited".
Timeline
The Company received information regarding the acquisition on October 21, 2026, and filed this intimation on the same date.