Strides Pharma to demerge biotech business under Stelis Biopharma
Strides will demerge and list its biotech business under Stelis on a standalone basis enabling significant value unlocking for Strides Shareholders.;
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Bengaluru: Strides Pharma Science Limited (Strides), Bengaluru headquartered global Pharmaceutical Company on Thursday announced that its Board of Directors have approved in principle the demerger of its biotech business under Stelis Biopharma (Stelis).
The demerger is expected to unlock significant value for Strides shareholders.
A Committee will be formed to explore various options of value discovery including listing of the business on a standalone basis and recommend to the Audit Committee, Committee of Independent Directors and Board including the Scheme, swap ratio and way forward, according to a release here on Thursday.
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