BENGALURU (Reuters) – India’s Strides Pharma Science on Monday said it would spin off its contract development and manufacturing organisation (CDMO) and soft gelatin business into a new entity which would list in the next 12-16 months.
The new company, known as “OneSource”, will have more than 1,200 employees and is expected to deliver revenue worth between $180 million – $200 million in fiscal 2025.
It is also targeting earnings before interest, taxes, depreciation and amortisation, or EBITDA margin of nearly 30%, which is expected to improve to over 35% from FY26 onwards.
Shareholders of Strides would hold 44% value in OneSource and will receive one share of OneSource for every two shares held in Strides, valuing the shares of Strides at 364 rupees apiece.
(Reporting by Kashish Tandon in Bengaluru; Editing by Dhanya Ann Thoppil and Nivedita Bhattacharjee)
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