Strides partners Ascent Capital, unlocks about Rs 1,000m from Pivot Path
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Strides Pharma is selling a majority stake in its subsidiary Pivot Path to a consortium led by Ascent Capital, with co-investor Vintage Classic. Strides will realise about Rs 1,000m while retaining around 20% ownership. Pivot Path is valued at about Rs 2,300m post-money, with Rs 500m primary capital infusion into Pivot Path. Pivot Path, carved out via an NCLT scheme in May 2026, reported FY26 revenue of Rs 1,447m and EBITDA of Rs 169m. After the deal, Pivot Path will be reclassified as an associate of Strides.
Unlocks value from subsidiary, adds Rs 1,000m cash to balance sheet. Pivot Path becomes an associate, reducing future consolidated revenue but retaining upside.