PDS Limited completes acquisition of 51% stake in DBS Lifestyle; stock rises

28 Oct 2022 , 01:34 PM

PDS Limited informed that it has completed the transaction as regards to the acquisition of a 51% stake in DBS Lifestyle India Private Limited (Erstwhile Pangram Brands Private Limited), a private limited company incorporated under the provisions of laws of India on October 27, 2022.

Earlier on October 14, 2022, PDS informed that it has agreed to acquire a 51% stake in DBS Lifestyle.

PDS will invest Rs21 crore (US$2.6 million) in the new entity Pangram Brands Private Limited as part of this transaction. The company said that majority of the proceeds will be utilised in funding the company’s growth plans and to acquire DBS’s existing businesses.

Divya Suri and Bhawnish Suri founded DBS Lifestyle LLP, a design-led company that caters to the fashion and home categories. DBS has over 20,000 original textile designs and patterns in its library, and it adds nearly 2500 artworks and samples each month.

At around 1.38 PM, PDS was trading at Rs297.60, up by 0.71% against previous close of Rs295.50 on NSE. So far, the counter hit intraday high and low of Rs304.90 and Rs292.20 respectively.

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