PDS is planning to further invest in Multinational Textile Group, a wholly owned material subsidiary of the company incorporated under the laws of Mauritius, by way of subscribing to the ordinary shares for a total amount of approximately Rs 84 crore ($9,999,990), in one or more tranches.
Proceeds from the further issue of shares will be utilized for the purpose of repayment of debt, payment of issue expenses including payment to legal counsels, auditors, pursuing strategic unidentified acquisitions and inorganic growth opportunities and general corporate purposes. The said acquisition is expected to be completed on or before October 31, 2024, or such other date mutually agreed between the parties.
PDS is a design-led organisation and its talented design teams offer exceptional product development and design services customised to retailers’ requirements.
