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Strides Pharma Share Gains as OneSource Listing Date Announced

Written by: Team Angel OneUpdated on: Jan 23, 2025, 3:18 PM IST
Strides Pharma shares jumped 8% as its subsidiary, OneSource, prepares to debut on NSE and BSE on January 24, 2025, following listing approval.
Strides Pharma Share Gains as OneSource Listing Date Announced
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Strides Pharma shares rose by nearly 8% to ₹622,  today, January 23, ahead of the trading debut of its subsidiary, OneSource Specialty Pharma Limited, on the NSE and BSE. The company announced that OneSource would start trading on January 24, 2025, after receiving final listing and trading approvals on January 22, 2025.

Share Allotment and Record Date

As part of the split, shareholders of Strides Pharma were allotted one fully paid equity share of ₹1 in OneSource for every two equity shares of ₹10 they held. The record date for this allotment was December 6, 2024, and the final allocation was completed on December 10, 2024. Fractional entitlements were consolidated, with proceeds from their sale to be distributed to shareholders.

Approval and Creation of OneSource

The National Company Law Tribunal (NCLT) approved the formation of OneSource in November 2024. The new entity consolidated Strides Pharma’s soft gel, biopharma (previously Stelis), and injectables businesses under a single umbrella. OneSource positions itself as the country’s first speciality pharma contract development and manufacturing organisation (CDMO).

Financial Performance

In FY24, OneSource recorded revenue of $21.5 million, marking an increase compared to FY23. The company also reported positive EBITDA for the first time in the last quarter of FY24. For FY25, OneSource has projected revenues between $160-$180 million with EBITDA margins of 34%.

Operational Updates

OneSource operates 5 facilities and employs 1,200 people. The company delivered its third consecutive EBITDA positive quarter in Q2FY25 and reported a rise in project requests after the Biosecure Act, of 2024, in the US. It is targeting an exit EBITDA of over $20 million by Q4FY25.

OneSource’s trading codes are ONESOURCE on NSE and 544292 on BSE. This marks the completion of Strides Pharma’s plans to work on shareholder value through the split.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Jan 23, 2025, 3:18 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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