PDS Ltd Divests UK Step-Down Subsidiary Northern Brands

PDS Limited announced the divestment of its entire stake in Northern Brands Limited, a UK-based step-down subsidiary, by its Hong Kong step-down subsidiary, Northern Apparel Limited. The transfer was effective October 8, 2026, and Northern Brands, UK, ceases to be a subsidiary. The transaction involved a nominal consideration of £1 (~₹108.92). PDS Ltd clarified that this divestment is not expected to materially impact its financial position, business operations, or performance. The contributed turnover of Northern Brands, UK, was 0.0024% of the consolidated turnover, with a negative net worth of approximately ₹(12,388,920.28).