PDS Ltd. to Acquire Remaining Stake in Hong Kong Subsidiaries

PDS Ltd. to Acquire Remaining Stake in Hong Kong Subsidiaries​

PDS Ltd. announced on March 30, 2026, that it currently holds a 93% equity stake in both GoodEarth Lifestyle Limited, Hong Kong, and Progress Manufacturing Group Limited, Hong Kong. The companies have proposed an acquisition of the remaining 7% equity stake from an existing shareholder. The transaction is contingent upon receiving necessary approvals from regulatory authorities in Hong Kong.

According to information released, GoodEarth Lifestyle Limited, HK, has a size of US$200,000.00, divided into 215,061 Class 'A' Ord. shares with voting right and 100 Class 'B' Ord. shares with voting right. Progress Manufacturing Group Limited, HK, has a size of US$10,000.00, divided into 11,494 Class 'A' Ordinary shares with voting right and 100 Class 'B' Ord. shares with no voting right.

Financial details for GoodEarth Lifestyle Limited, HK, include a consolidated turnover of ₹337.00Cr and a PAT of ₹11.02Cr as of March 31, 2025, with a net worth of ₹(144.74)Cr. Progress Manufacturing Group Limited, HK, reported a consolidated turnover of ₹450.93Cr and a PAT of ₹14.31Cr as of March 31, 2025, with a net worth of ₹(247.38)Cr. Standalone figures for GoodEarth Lifestyle Limited, HK, show a turnover of ₹87.93Cr and a PAT of ₹(4.25)Cr with a net worth of ₹125.15Cr as of March 31, 2025. Progress Manufacturing Group Limited, HK, had a standalone turnover of ₹215.32Cr and a PAT of ₹(7.30)Cr with a net worth of ₹181.59Cr as of the same date.

The acquisition is considered a related-party transaction and will occur on an arm's length basis. The entities operate within the apparel industry. The consideration for the acquisition will be in the form of cash, amounting to USD 2 per share, which is equivalent to approximately ₹188 at a price of ₹93.92 per USD. The transaction was approved on March 30, 2026.

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