PDS Limited announced the successful completion of its Qualified Institutions Placement (QIP), raising ₹430 crore (approximately $51 million). The QIP garnered strong interest from institutional investors, with subscriptions surpassing twice the issue size.
This capital raise will accelerate PDS’s growth by expanding into new markets and categories, diversifying sourcing regions through brownfield investments, and maintaining a robust balance sheet.
Pallak Seth, Executive Vice Chairman, expressed his satisfaction with the enthusiastic response to the QIP, noting that this is the first fundraising since the demerger, with diverse institutional investor participation. He emphasized that this funding will be crucial for driving expansion, fostering innovation, and growing PDS’s global presence.
Sanjay Jain, Group CEO, also shared his enthusiasm for the strong QIP response. He highlighted that the funds not only enhance the balance sheet but also bolster growth opportunities and institutionalize the capital structure with prominent long-term investors.