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.