Strides Pharma Arm OneSource Shares Debut At 6.9% Premium
OneSource received the final listing and trading approval for its equity shares from the NSE and the BSE on Jan. 22
OneSource Ltd. listed on the BSE on Friday at Rs 1,800 apiece, a premium of 6.9% over its pre-open discovery price of Rs 1,610.7 apiece derived on the exchange. Even on the National Stock Exchange, the stock debuted at Rs 1,800 per share.
OneSource is a Contract Development & Manufacturing Organization and soft gelatin business and a subsidiary of Strides Pharma Science Ltd. The company received the final listing and trading approval for its equity shares from the NSE and the BSE on Jan. 22. Strides Pharma shareholders as of Dec. 6, the record date, had received one fully paid equity of Rs 1 each in OneSource for two equities held in Strides. The allotment was finalised on Dec. 10 in 2024.
In November 2024 the National Company Law Tribunal gave approval to Strides Pharma for the spinning of OneSource.
In September, Strides Pharma had said that it will spin off its CDMO and soft gelatin business under Stelis and call it OneSource. OneSource is India's first specialty pharma pure play CDMO, according to the company. The company includes three arms, biologics and high-end drug devices combination, which was under its unit Stelis, oral technologies and sterile injectables.
The move will result in the integration of synergies and enable better supervision of the business, the company had said in an exchange filing. In addition, it would help achieve growth and sustain value creation for the shareholders, the company said.
