Nature of the Event
PDS Limited has disclosed that its step-down subsidiary, Nor Lanka Manufacturing Limited, Hong Kong, has divested its entire 26% equity stake in Nobleswear (Private) Limited, Sri Lanka, which was a step-down associate of the Company.
Key Quantitative Figures
- Net worth of Nor Lanka Manufacturing Limited: ₹635.22 Lakhs
- Percentage of Consolidated Net worth: 0.36%
- Turnover: Not Applicable
- Percentage of Consolidated Turnover: Not Applicable
- Consideration received: ~₹95.31 (USD 1)
Dates of Action
- Agreement date: June 5, 2026
- Transaction effective date: June 5, 2026
- Company informed date: July 10, 2026
- Expected completion date: July 10, 2026
Parties Involved
Seller: Nor Lanka Manufacturing Limited, Hong Kong (step-down subsidiary of PDS Limited)
Target Company: Nobleswear (Private) Limited, Sri Lanka (step-down associate)
Buyer: Nobles (Private) Limited
- Company Number: PV 2617
- Address: Godaparagahawatta, Pokunuwita, Horana, Sri Lanka
- Relationship: Not a member of the Promoter and/or Promoter Group of PDS Limited
Transaction Details
- Transaction type: Equity stake divestment
- Stake sold: Entire 26% equity holding
- Related party transaction: No
- Arm's length transaction: Not applicable (not a related party transaction)
- Outside Scheme of Arrangement: No
- Slump sale: Not Applicable
Impact and Status
- Nobleswear has ceased to be a step-down associate of PDS Limited effective June 5, 2026
- Financial impact: Consideration of ~₹95.31 received
- The transaction does not fall within related party transactions