Strides Pharma Science Ltd has divested its majority stake in wholly-owned subsidiary Pivot Path for ₹100 crore, handing control to a consortium led by Ascent Capital Partners with co-investor Vintage.
The Indian pharmaceutical company will retain a 19.95% stake in the entity following the transaction, which was announced on Saturday.
The deal structure allows Strides Pharma to monetize a portion of its asset while maintaining a financial interest in the arm's future growth trajectory.
The move signals a strategic shift for Strides Pharma, focusing on capital allocation and potentially streamlining its portfolio.
By bringing in private equity partners, the company aims to accelerate the development of Pivot Path through external investment and strategic oversight, rather than managing it as a fully integrated internal unit.
Ascent Capital, a prominent private equity firm in India, will take the lead in the consortium, bringing operational expertise to the newly structured entity.