PDS Limited is pleased to announce the successful completion of its Qualified Institutions Placement (QIP), raising ₹430 crore (~$51 million).
The QIP received robust interest from institutional investors, with the subscription exceeding 2x the issue size. This overwhelming response reflects the strong confidence in PDS’s strategic vision and growth potential, as well as the resilience and vitality of its business model, which has been refined over two and a half decades.
This fundraising will enable PDS to accelerate its growth by expanding into new markets and categories, diversifying its sourcing regions through brownfield investments, and maintaining a robust balance sheet.
Pallak Seth, Executive Vice Chairman commented on this milestone,
Pallak Seth, Executive Vice Chairman commented on this milestone, “We are immensely pleased with the enthusiastic response to our QIP, especially as this marks our first fundraise since demerger, with participation from a diverse range of institutional investors. This funding will be pivotal in propelling our expansion efforts, driving innovation, and expanding our global footprint into new & exciting markets.”
Sanjay Jain, Group CEO, added
Sanjay Jain, Group CEO, added “We are delighted with the strong response to our QIP, which not only strengthens our balance sheet but also fuels our growth opportunities. Furthermore, this fundraise helps institutionalize our capital structure with the participation of leading marquee long-term investors.”
