PDS Limited has successfully completed the acquisition of the remaining 15% equity stake in Jcraft Array Limited, a Hong Kong-based apparel trading company. The transaction was executed through Norwest Industries Limited, PDS Limited's wholly owned Hong Kong subsidiary, which previously held an 85% stake in Jcraft.

Transaction Details

The acquisition was completed on January 1, 2026, with the company formally communicating the development on January 15, 2026. The transaction details are outlined below:

About Jcraft Array Limited

Jcraft Array Limited is a private company incorporated under Hong Kong laws on April 12, 2018. The company operates in the ready-made garment trading business within the apparel industry. Key financial and operational details include:

Historical Performance

Jcraft's revenue performance over the last three financial years shows fluctuation in business operations:

Strategic Rationale

The acquisition serves multiple strategic objectives for PDS Limited. The company aims to simplify its shareholding structure and consolidate ownership for better operational control. This move is expected to enable more efficient decision-making processes and facilitate the execution of turnaround initiatives for Jcraft's business operations.

Regulatory Compliance

The share transfer received approval from relevant Hong Kong regulatory authorities and complies with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The transaction qualifies as a related party transaction conducted on an arm's length basis, with no additional interest from promoters or group companies in the acquired entity.

PDS Limited has announced the dissolution of its step-down subsidiary S. Oliver Fashion India Private Limited, marking another step in the company's corporate restructuring initiative. The dissolution became effective January 8, 2026, following an order from the Hon'ble National Company Law Tribunal.

Corporate Restructuring Initiative

The dissolution forms part of PDS Group's ongoing strategy to streamline its corporate structure by eliminating non-operational and redundant entities. S. Oliver Fashion India Private Limited was held through Technocian Fashions Private Limited, a subsidiary of PDS Limited, and has now ceased to be a step-down subsidiary of the company.

Financial Impact Assessment

The company has provided detailed financial disclosures regarding the dissolved entity's contribution:

PDS Limited has explicitly stated that the dissolution will not have any material impact on the company's financial position, as S. Oliver had no active business operations during the reporting period.

Regulatory Compliance

The announcement was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received the tribunal's dissolution order on January 9, 2026, and promptly informed the stock exchanges.

The disclosure follows SEBI guidelines including Schedule III of the SEBI Listing Regulations and relevant SEBI circulars dated November 11, 2024, and February 25, 2025.

Key Transaction Details

The dissolution process did not involve any sale agreement or consideration, as it was a direct dissolution rather than a disposal transaction. No buyers were involved in the process, and the transaction does not fall under related party transactions or schemes of arrangement.

This corporate action reflects PDS Limited's focus on maintaining an efficient organizational structure by removing entities that do not contribute to active business operations.