Strides Pharma Science Limited has announced a scheme of arrangement involving Strides Pharma Science Limited (Parent Company or Demerged Company), Steriscience Specialties Private Limited, and OneSource Specialty Pharma Limited (Child Company or Resulting Company). The scheme was sanctioned by the NCLT, Mumbai Bench on November 14, 2024. For this corporate action, December 6, 2024, has been set as the record date.
Shareholders of Strides Pharma Science will receive 1 equity share of Rs. 1 each in the Resulting Company for every 2 equity shares of Rs. 10 each held in the Demerged Company as of the record date. For example, holding 100 shares of Strides would entitle you to 50 shares of OneSource Specialty Pharma Limited. The equity shares of the Resulting Company, OneSource, will be listed on BSE and NSE in due course as per the provisions of the scheme. Shareholders can track the shares in their demat holdings even before listing. Fractional shares, if any, will be held in trust by Catalyst Trusteeship Limited and sold within 90 days. The net proceeds will be distributed to eligible shareholders after deducting applicable expenses and taxes.
This arrangement reflects Strides Pharma’s restructuring initiatives to streamline operations. Investors are encouraged to review the details carefully and track updates on the effective date and listing process.
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