PDS Limited's Subsidiary Divests Stake in Sri Lankan Associate, Completing Separation of Interest
PDS Limited has confirmed that its step-down subsidiary, Nor Lanka Manufacturing Limited, Hong Kong, divested its entire 26% equity stake in Nobleswear (Private) Limited, a step-down associate of the company. The divestment was finalized on June 5, 2026. As a result of this transaction, Nobleswear has ceased to be a step-down associate of PDS Limited.The sale involved Nor Lanka Manufacturing Limited divesting its stake in Nobleswear (Private) Limited, based in Sri Lanka. The purchase details and the current status of the relationship have been disclosed following the conclusion of the transaction on July 10, 2026.
Key details pertaining to the divestment include the financial standing of the associate company during the last financial year. Nobleswear (Private) Limited had a Net Worth of ₹ 635.22 Lakhs, which represented 0.36% of the Consolidated Net worth for PDS Limited. The transaction concluded with consideration received amounting to ~₹ 95.31 {USD 1}.
The buyer in this divestment was identified as Nobles (Private) Limited, located in Sri Lanka. The transfee is not associated with the Promoter or Promoter Group of the company, and the transaction did not fall within related party transactions.
A summary of the core aspects of the entity separation and sale is provided below:
| Particulars | Details |
|---|---|
| Entity whose stakes were sold | Nobleswear (Private) Limited, Sri Lanka |
| Shares held by Nor Lanka Manufacturing Limited | 26% equity stake |
| Date of Sale Agreement | June 5, 2026 |
| Expected Completion Date of Sale/Disposal | July 10, 2026 (Transaction effective June 5, 2026) |
| Consideration Received | ~₹ 95.31 {USD 1} |
| Buyer Details | Nobles (Private) Limited, Sri Lanka. Not part of the Promoter Group. |
PDSL Stock Price Movement
On Friday, shares of PDS Limited gained 1.54%, climbing to settle at ₹356.85 in market trading. The stock traded on a volume of 37,467 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.