PDS has received approval to acquire equity shares of Digital Ecom Techno (Indirect Associate Company of PDS) from PDS Brands (existing wholly owned subsidiary of PDS) and direct further subscription of Optionally Convertible Redeemable Preference Shares (in one or more tranches). The objective of acquisition is to acquire a direct stake in Digital Ecom from PDS Brands with an intent to move towards closure of PDS Brands (wholly owned subsidiary), as a part of the exercise to reduce the number of legal entities within the PDS Group.
With this proposed acquisition of equity shares of Digital Ecom from PDS Brands and direct further subscription of Optionally Convertible Redeemable Preference Shares, Digital Ecom will become direct associate of the Company. The Board of Directors of the Company at its meeting held on May 14, 2024 has approved the same.
PDS is a design-led organisation and its talented design teams offer exceptional product development and design services customised to retailers’ requirements.
