Strides Pharma Science share price jumped over 9% on Thursday after the company announced that OneSource received final listing and trading approval for its equity shares. Strides Pharma shares spiked as much as 9.55% to a high of ₹637.25 apiece on the BSE.
OneSource shares will start trading on NSE and BSE from Friday, January 24, 2025 onwards.
“We wish to inform you that OneSource has received Final Listing and Trading approval for its Equity Shares from the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on Wednesday, January 22, 2025,” Strides Pharma Science said in a regulatory filing on January 23.
Strides Pharma Science Demerger
Strides Pharma Science, last year, demerged its CDMO business into OneSource Specialty Pharma Ltd. The demerger was approved by the National Company Law Tribunal.
Strides Pharma Science demerged its Contract Development and Manufacturing Organization (CDMO) business into OneSource Specialty Pharma Ltd., following approval by the National Company Law Tribunal (NCLT) in 2024.
The company’s board had, in 2023, approved the demerger of its oral soft gelatin business and identified the CDMO business into Stelis.
Subsequent to the approval, OneSource, formerly known as Stelis, will be listed on the Indian stock market. As part of the demerger ratio or share swipe ratio of 1:2, eligible shareholders of Strides Pharma received one fully paid equity share in OneSource for every two equity shares held in Strides Pharma.
Strides Pharma Science demerger record date was December 6, 2024, and the final share allotment was completed on December 10, 2024. As part of the process, Strides shareholders will own 44% of OneSource.
Strides Pharma Science Stock Price Trend
Strides Pharma share price has fallen over 10% in one month and 16% in three months. However, Strides Pharma stock has delivered multibagger returns of 100% in one year and nearly 290% in two years.
At 1:15 PM, Strides Pharma shares were trading 8.51% higher at ₹631.15 apiece on the BSE.
