Strides Pharma Science soared 7.48% to Rs 625.15 after it received the final listing and trading approval for equity shares of OneSource from the National Stock Exchange of India (NSE) and BSE on Wednesday, 22 January 2025.
OneSource shall start trading on NSE and BSE from Friday, January 24, 2025 onwards, stated the company.Strides Pharma Science demerged its Contract Development and Manufacturing Organization (CDMO) business into OneSource Specialty Pharma, following approval by the National Company Law Tribunal (NCLT) in November 2024.
Strides shareholders will receive one OneSource equity share for every two Strides shares held. Strides Pharma Science demerger record date was 6 December 2024, and the final share allotment was completed on 10 December 2024.
OneSource Specialty Pharma (OneSource) is Indias first specialty pharma Contract Development and Manufacturing Organization (CDMO).
Strides Pharma Science is engaged in developing and manufacturing a wide range of IP-led niche pharmaceutical products.
It reported a consolidated net profit of Rs 93.23 crore in Q1 FY25 as against a net loss of Rs 131.34 crore posted in Q2 FY24. Revenue from operations grew 20.17% to Rs 1201.1 crore in the quarter ended September 2024.
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