PDS Limited — Others, 31-07-2025: Monitoring Agency Report

PDS Limited's Qualified Institutional Placement (QIP) funds utilization has been reviewed by CRISIL Ratings, confirming no deviation from the stated objectives. Of the net proceeds totaling Rs 410.56 crore, the company has used Rs 278.36 crore to repay borrowings. Additionally, Rs 24.20 crore was deployed for strategic acquisitions, including a 55% equity stake in Knit Gallery India Private Limited, which aims to expand the company's manufacturing footprint. The unutilized balance of Rs 107.99 crore is held in fixed deposits and money market funds, providing transparency on the effective deployment of raised capital.