Strides Pharma completes sale of majority stake in Pivot Path for about Rs 1,000 mn
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Strides Pharma Science has completed the sale of its majority stake in Pivot Path to a consortium led by Ascent Capital, with co-investor Vintage Classic, for an aggregate consideration of about Rs 1,000 million. The company has already received Rs 750 million, with the balance Rs 250 million payable on the first anniversary of the closing date. Consequently, Pivot Path has ceased to be a wholly owned subsidiary and will now be classified as an associate company, effective July 1, 2026.
Divestment unlocks about Rs 1,000 mn cash for Strides (Rs 750 mn now, Rs 250 mn later). Pivot Path becomes an associate, reducing consolidated revenue.