<?xml version="1.0" encoding="UTF-8" standalone="no"?><xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2022-12-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2022-12-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2022-12-31/in-capmkt-roles" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:xlink="http://www.w3.org/1999/xlink"><link:schemaRef xlink:href="in-capmkt-ent-2022-12-31.xsd" xlink:type="simple"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ISIN">538730</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-04-07</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ISIN">538730</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-04-07</xbrli:startDate><xbrli:endDate>2026-04-07</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="D_UnitOrDivisionOrSubsidiary1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">538730</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-04-07</xbrli:startDate><xbrli:endDate>2026-04-07</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember 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contextRef="OneI">PDSL</in-capmkt:NSESymbol><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">New</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:EventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Sale or disposal of unit(s)/division(s)/subsidiary</in-capmkt:EventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:DateOfEventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneI">2026-04-07</in-capmkt:DateOfEventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:RemarksForWebsiteDissemination contextRef="OneI">www.pdsltd.com</in-capmkt:RemarksForWebsiteDissemination><in-capmkt:DateOfReport contextRef="OneI">2026-04-07</in-capmkt:DateOfReport><in-capmkt:DetailsOfSaleOrDisposalUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="I_UnitOrDivisionOrSubsidiary1">PDS Brands Private 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contextRef="OneI">2026-04-07</in-capmkt:DateOnWhichTheAgreementForSaleHasBeenEnteredInto><in-capmkt:TheExpectedDateOfCompletionOfSaleOrDisposal contextRef="OneI">2026-04-07</in-capmkt:TheExpectedDateOfCompletionOfSaleOrDisposal><in-capmkt:NatureOfConsiderationForSaleOrDisposal contextRef="OneD">Others</in-capmkt:NatureOfConsiderationForSaleOrDisposal><in-capmkt:DetailsOfConsiderationForSaleOrDisposal contextRef="OneI">Not Applicable, The entity is struck off from the records of Ministry of Corporate Affairs.</in-capmkt:DetailsOfConsiderationForSaleOrDisposal><in-capmkt:BriefDetailsOfBuyers contextRef="OneI">Not Applicable, The entity is struck off from the records of Ministry of Corporate Affairs.</in-capmkt:BriefDetailsOfBuyers><in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupOrAssociateOrHoldingOrSubsidiaryCompaniesOrDirectorAndKMPAndItsRelativesHaveAnyInterestInTheEntityBeingSaleOrDisposed 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contextRef="OneI">2031-01-31</in-capmkt:DateOfSpecialResolutionForSaleOrDisposalEvent><in-capmkt:AnyOtherBriefSignificantInformationForSaleOrDisposal contextRef="OneI">1. The entity reported for is struck off from the records of Ministry of Corporate Affairs effective today.
2. The Audit Committee and shareholders approval are not required. However, due to technical mandate of the utility we have mentioned a dummy date.
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