PDS shines as its arm to acquire 100% stake in New Lobster
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PDS is currently trading at Rs. 361.75, up by 22.75 points or 6.71% from its previous closing of Rs. 339.00 on the BSE.
The scrip opened at Rs. 335.20 and has touched a high and low of Rs. 370.05 and Rs. 335.20 respectively. So far 27054 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 383.00 on 27-Apr-2023 and a 52 week low of Rs. 282.00 on 13-Oct-2022.
Last one week high and low of the scrip stood at Rs. 370.05 and Rs. 335.20 respectively. The current market cap of the company is Rs. 4763.11 crore.
The promoters holding in the company stood at 66.30%, while Institutions and Non-Institutions held 4.08% and 29.62% respectively.
PDS’ Subsidiary -- PDS Lifestyle, a company incorporated under the laws of England and Wales, has planned to acquire 100% stake in New Lobster (New Lobster), incorporated under the laws of England and Wales. New Lobster will serve as the global hub for the Ted Baker brand and take on Ted Baker’s design and merchandising functions. Further, this entity will become a core licensee and operating partner for Ted Baker.
This acquisition enables PDS Group to expand its offering into brand management services & wholesale distribution. New Lobster will serve as the global hub for the Ted Baker brand and take on Ted Baker’s design and merchandising functions. Further, this entity will become a core licensee and operating partner for Ted Baker. New Lobster accordingly has the employees and net working capital for the above-mentioned business, which is being acquired at Net Asset Value basis.
PDS is a design-led organisation and its talented design teams offer exceptional product development and design services customised to retailers’ requirements.
