Comments
OneSource Specialty Pharma Limited, a subsidiary of Strides Pharma Science Limited, has secured equity commitments worth ₹801 crore ($95 million) from several prominent investors at a pre-money valuation of $1.65 billion. The funding round was announced today and is being led by HBM Healthcare Investments along with investors including WhiteOak Capital, Param Capital, Motilal Oswal, Enam Holdings, and SBI Life Insurance.
The shares of Strides Pharma Science Limited were trading at ₹1,595.70 up by ₹29.75 or 1.90 per cent on the NSE today at 10 am.
The investment represents an 82 per cent premium over the previous embedded value for Strides’ shareholders, increasing from ₹364 to ₹663 per share. The funds will be used to accelerate growth plans, manage debt and support capital expenditure for the company’s order book.
OneSource, formerly known as Stelis Biopharma Limited, is positioning itself as India’s first specialty pharma pure-play CDMO (Contract Development and Manufacturing Organization). The company was created through the integration of Stelis’ Biologics CDMO, SteriScience’s Complex Injectables, and Strides’ Soft Gelatine businesses.
The company is currently awaiting final approval from the National Company Law Tribunal (NCLT), Mumbai Bench, and aims to list its equity shares by March 2025. OneSource operates five facilities approved by major regulatory bodies and employs over 1,200 professionals, including 200 techno-commercial experts.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.