PDS Limited says a step-down subsidiary transferred its entire stake in Northern Brands UK
- Mergers & acquisitions
- Apparel
PDS Limited has told the exchanges on 9 Oct 2026 that Northern Apparel Limited, its step-down subsidiary in Hong Kong, transferred its entire stake in Northern Brands Limited, a step-down subsidiary in the United Kingdom, with effect from 8 Oct 2026. The company was informed on 9 Oct 2026, and Northern Brands UK ceased to be a step-down subsidiary from 8 Oct 2026.
The company says the transaction is not expected to have any material impact on its financial position, business operations or financial performance. The details required by the SEBI master circular were filed as Annexure I.
Inference
The company itself describes the effect as immaterial. The stake was held two levels below the listed company, and the part of the filing reviewed here does not give the buyer or the price.
Reference: Original filing (PDF)
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