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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.
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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 Rs 364 apiece.
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