PDS Limited Acquires Remaining 7% Stake in HK Subsidiaries

PDS Limited's step-down subsidiaries are acquiring the remaining 7% equity stake each in GoodEarth Lifestyle Limited and Progress Manufacturing Group Limited, both Hong Kong-incorporated apparel entities.
The total cash consideration for the acquisition is USD 2 (~₹188 at ₹93.92/USD), with transfer documents executed and filed with Hong Kong regulators on March 30, 2026.
The acquisition aims to simplify shareholding structure, consolidate ownership to 100%, and facilitate ESOP implementation at the manufacturing holding level under PDS Limited.
Both target entities operate in textiles and apparels; GoodEarth reported consolidated turnover of ₹337 Cr and Progress Manufacturing ₹450.93 Cr for FY2024-25.