PDS Ltd Share Price – NSE /  BSE

Trading, Small Cap

PDS updated on its business operations in Bangladesh. The company said, Despite experiencing a few days of impact on our operations last month, our facilities have since resumed normal operations. We have also seen a return to normalcy across our partner factories in the region.Importantly, our customers have understandingly extended their support and cooperation during this time, for which we are grateful.

The company further added that it remains positive in the medium-term business prospects in Bangladesh.

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PDS has allotted 80,22,388 equity shares of the face value of Rs 2 each to the eligible Qualified Institutional Buyers (QIBs) at the issue price of Rs 536 per equity share, i.e., at a premium of Rs 534 per equity share [(which includes a discount of Rs 27.59 per equity share (4.90% of the floor price, as determined in terms of the SEBI ICDR Regulations) to the floor price of Rs 563.59 per equity share)], aggregating to approximately Rs 430 crore, pursuant to the Issue.

Pursuant to the said allotment of equity shares in the Issue, the Issued and Paid-up Equity Share Capital of the Company stands increased from Rs 26,48,21,642 consisting of 13,24,10,821 equity shares to Rs 28,08,66,418 consisting of 14,04,33,209 equity shares of Rs 2 each.

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PDS announced the successful completion of its Qualified Institutions Placement (QIP), raising Rs 430 crore (~$51mn).

The QIP attracted robust interest from institutional investors, with a subscription exceeding 2x the issue size. The overwhelming response and commitment from institutional investors underscore the confidence in PDS's strategic vision, growth potential and a testament to the resilience and vitality of the business model, refined over two and a half decades.

This fund raise enables PDS to accelerate its growth journey of expanding into new markets & categories, as well as diversifying its sourcing regions through brownfield investments, all while maintaining a robust balance sheet.

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Net profit of PDS rose 5.63% to Rs 19.90 crore in the quarter ended June 2024 as against Rs 18.84 crore during the previous quarter ended June 2023. Sales rose 23.93% to Rs 2621.06 crore in the quarter ended June 2024 as against Rs 2114.94 crore during the previous quarter ended June 2023.

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