Strides Pharma Science’s associate company, OneSource Specialty Pharma, has successfully raised INR 801 crore (approximately USD 95 million) from marquee investors at a pre-money valuation of USD 1.65 billion. The fundraising delivers an embedded value of INR 663 per share for Strides shareholders, marking a substantial 82% premium over the previous embedded value of INR 364 per share announced in September 2023.
The investors include prominent names like HBM Healthcare Investments, WhiteOak Capital, Param Capital, Motilal Oswal, Enam Holdings, and SBI Life Insurance. This fundraising effort aligns with OneSource’s growth strategy and is expected to support future growth plans, debt reduction, and significant capital expenditure.
The fundraising is in line with the Scheme of Arrangement announced by Strides in September 2023, with Strides shareholders set to receive one share of OneSource for every two shares of Strides.
This major development not only reflects confidence in OneSource’s potential but also adds significant value for Strides shareholders.
