Strides to demerge and list its biopharma business under Stelis
Stelis Biopharma (Stelis) today announced that it has successfully concluded its Series B and Series C fund raise for a cumulative amount of US$ 195m.Post money valuation for Stelis will be pegged at ~US$ 350m, underpinning the significant growth potential of the business and also a significant value accretion for existing shareholders.
With the current capital raise, Stelis is now well positioned to pursue its growth initiatives and scale its business model to deliver promising returns in the coming years.
Post completion on Series C fund raise, Strides to hold 33% (Pre-ESOP) in Stelis with its investment valued at US$ 116m.
Strides will demerge and list its Biopharma business under Stelis on a standalone basis enabling significant value unlocking for Strides shareholders.
The transaction is subject to approval from shareholders, meeting customary closing conditions and is expected to achieve closure in over 12 months
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app