PDS moves up on getting nod to acquire equity shares of Digital Ecom Techno
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PDS is currently trading at Rs. 448.95, up by 10.00 points or 2.28% from its previous closing of Rs. 438.95 on the BSE.
The scrip opened at Rs. 454.95 and has touched a high and low of Rs. 463.65 and Rs. 443.00 respectively. So far 2839 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 666.00 on 15-Nov-2023 and a 52 week low of Rs. 304.05 on 25-May-2023.
Last one week high and low of the scrip stood at Rs. 463.65 and Rs. 430.00 respectively. The current market cap of the company is Rs. 5906.41 crore.
The promoters holding in the company stood at 65.81%, while Institutions and Non-Institutions held 4.57% and 29.63% respectively.
PDS has received approval to acquire equity shares of Digital Ecom Techno (Indirect Associate Company of PDS) from PDS Brands (existing wholly owned subsidiary of PDS) and direct further subscription of Optionally Convertible Redeemable Preference Shares (in one or more tranches). The objective of acquisition is to acquire a direct stake in Digital Ecom from PDS Brands with an intent to move towards closure of PDS Brands (wholly owned subsidiary), as a part of the exercise to reduce the number of legal entities within the PDS Group.
With this proposed acquisition of equity shares of Digital Ecom from PDS Brands and direct further subscription of Optionally Convertible Redeemable Preference Shares, Digital Ecom will become direct associate of the Company. The Board of Directors of the Company at its meeting held on May 14, 2024 has approved the same.
PDS is a design-led organisation and its talented design teams offer exceptional product development and design services customised to retailers’ requirements.
