NEW DELHI, June 27: Strides Pharma Science Ltd on Saturday announced divestment of majority stake in its wholly-owned arm Pivot Path for Rs 100 crore to a consortium of investors led by Ascent Capital, along with co-investor Vintage.
The board of directors of the company, at its meeting held on June 27, 2026, has approved a strategic investment by a consortium led by Ascent Capital, along with co-investor Vintage Classic, in its wholly owned subsidiary, Pivot Path Pvt Ltd (Pivot Path), Strides Pharma Science Ltd , said in a regulatory filing.The proposed transaction comprises the sale of the majority stake by Strides to Ascent Capital and Vintage Classic for an aggregate consideration of Rs 100 crore and the primary infusion of Rs 50 crore into Pivot Path by Ascent Capital to accelerate the next phase of growth, it added.Strides will receive Rs 75 crore at initial closing and Rs 25 crore on the first anniversary of closing, it added. (PTI)
