Fashion Platform PDS Secures Rs 430 Crore In QIP Round
The fashion platform successfully secured approximately $51 million in the QIP.
PDS Ltd., a fashion sourcing and manufacturing platform for leading global brands and retailers, announced on Wednesday that it has raised Rs 430 crore through a qualified institutional placement.
The fashion platform successfully secured approximately $51 million in the QIP, which saw strong interest from institutional investors, with subscriptions exceeding twice the issue size, the company said in a statement.
PDS stated that this funding will accelerate its growth by enabling expansion into new markets and categories, diversifying sourcing regions through brownfield investments, and maintaining a strong balance sheet.
"This funding will be pivotal in propelling our expansion efforts, driving innovation, and expanding our global footprint into new and exciting markets," said PDS Executive Vice Chairman Pallak Seth.
PDS Ltd. is a fashion infrastructure platform offering product development, sourcing, manufacturing, and distribution for major brands and retailers worldwide. It has a global network covering over 90 locations in more than 20 countries, with 4,200-plus employees and over 6,000 factory associates worldwide.
The company reported consolidated revenue of Rs 10,370 crore in FY24.
(With Input From PTI)
