PDS Limited subsidiary PDS Sourcing Limited has acquired the remaining 49% equity stake in DBS Lifestyle Limited, Hong Kong, for $4,900. The transaction, effective October 20, 2026, makes the Hong Kong entity a wholly owned step-down subsidiary.

PDS Sourcing is a wholly owned subsidiary of PDS Limited. Prior to this acquisition, PDS Sourcing held 51% of DBS Lifestyle HK’s equity share capital. The company stated that the move aims to simplify the shareholding structure, consolidate ownership, and enable more efficient decision-making for turnaround initiatives.

Transaction details and financials

The acquisition was executed from Mr. Bhawnish Suri and Mrs. Divya Suri. The filing confirms that this transaction does not qualify as a related party transaction, and neither the promoter nor promoter group holds any interest in the entity being acquired. The consideration was paid entirely in cash.

DBS Lifestyle HK was incorporated on December 8, 2022, to support the international business expansion of DBS Lifestyle India Private Limited. The entity operates in the garments and accessories sector within textile, fashion, and apparel.

Strategic rationale

PDS Limited noted that the acquisition facilitates streamlined execution of turnaround initiatives for the Hong Kong entity. Following the completion of the deal, PDS Limited has initiated the process of renaming DBS Lifestyle HK to "PDS Sourcing HK Limited".

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received information regarding the acquisition on October 21, 2026.

PDS has divested its entire stake in Northern Brands Limited, UK, through its wholly owned subsidiary Northern Apparel Limited, HK. The transaction was completed on October 8, 2026.

Transaction details

The divestment was executed by Northern Apparel Limited, HK, acting as the selling entity on behalf of PDS. The deal marks a complete exit from Northern Brands Limited, UK. Consequent to the transfer, Northern Brands, UK ceases to be a step-down subsidiary of the company effective October 8, 2026.

Financial impact

PDS has stated that the transaction is not expected to have any significant effect on its finances. The consideration received for the sale was £1 (approximately ₹108.92).

According to the disclosure, the divested unit contributed a turnover of ₹3,624,007.06 (GBP 28,509.00) in the last financial year, representing just 0.0024% of the consolidated turnover. The net worth of the unit stood at negative ₹12,388,920.28 (GBP 97,460.00). The transaction does not fall within related party transactions as per the company's clarification.