PDS Ltd Raises Rs 421 Crore Through QIP

PDS Limited announces the successful completion of its Qualified Institutions Placement (QIP), raising Rs 421 crore (~US$ 51 million). The QIP attracted strong interest from institutional investors, with the subscription exceeding twice the issue size.

The overwhelming response and commitment from institutional investors highlight the confidence in PDS’s strategic vision and growth potential. This successful fundraise is a testament to the resilience and strength of the company’s business model, refined over more than two decades.

This capital will enable PDS to accelerate its growth trajectory, expand into new markets and categories, and diversify its sourcing regions through brownfield investments, all while maintaining a strong balance sheet.

Pallak Seth, Executive Vice Chairman of PDS, commented on this milestone, stating, “We are immensely pleased with the enthusiastic response to our QIP, especially as this marks our first fundraise since the demerger. The participation from a diverse range of institutional investors is encouraging and will be pivotal in propelling our expansion efforts, driving innovation, and expanding our global footprint into new and exciting markets.”

Sanjay Jain, Group CEO, added, “We are delighted with the strong response to our QIP, which not only strengthens our balance sheet but also enhances our growth opportunities. This fundraise helps institutionalize our capital structure with the participation of leading long-term investors.”