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PDS Multinational Fashions subsidiary enters into SPA with S.O.T. Garments; Stock soars 4.5%

The company wants to expand and create an opportunity in the Indian fashion market and apparel business.

December 01, 2021 3:06 IST | India Infoline News Service
PDS Multinational Fashions Limited subsidiary, Technocian Fashions Private Limited, has entered into a Share Purchase Agreement with S.O.T. Garments India Private Limited, a Company incorporated under the Companies Act, 1956.

The object of the acquisition is to expand and create an opportunity in the Indian fashion market and apparel business including but not limited to procuring the benefit of the availability of rich raw material, skilled personnel, and gain from the competitive manufacturing in India.

The indicative time period for completion of the acquisition (99.99%) is on or before May 31, 2023 at ~Rs 27 million.

Towards last half of trade on Wednesday, PDS Multinational Fashions Limited was trading at Rs1485.75 per piece up Rs65.40 or 4.60% on the BSE. The stock hit a day's high of Rs1509.30 per piece after opening at Rs1420.00 per piece from previous close of Rs1420.35 per piece. 

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