OneSource's Big Leap: Strides Pharma Secures Major Investment

Strides Pharma Science announced an equity commitment of Rs 801 crore for its associate firm, OneSource Specialty Pharma. The funding will support growth, debt management, and expansion plans. The investment terms, worth USD 1.65 billion, await regulatory approval and are aligned with the company's strategic restructuring plans.

Strides Pharma Science revealed on Wednesday that its associate firm, OneSource Specialty Pharma, has secured an equity infusion of Rs 801 crore from both domestic and foreign institutional investors. This funding comes as part of a pre-listing round, aimed to support OneSource's growth ambitions.

According to a statement from Strides Pharma Science, the capital commitment is established at a pre-money equity valuation of USD 1.65 billion. This financial boost aligns with the strategic scheme of arrangement disclosed in September 2023. The company has specified that the infusion is subject to standard closing conditions, including the acquisition of necessary regulatory approvals.

Arun Kumar, Founder of Strides Group, expressed that the fundraise will facilitate the acceleration of growth plans, adjustment of debt books, and significant capital investment for bolstering the company's order book across its three platforms. Strides is progressing toward listing OneSource's equity shares by March 2025, following approval from the NCLT, Mumbai Bench.

(With inputs from agencies.)