Strides Pharma sells stake in subsidiary Pivot Path to Ascent Capital for Rs 100 Cr

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Bengaluru-based Strides Pharma Science has announced a strategic investment by a consortium led by Ascent Capital, along with co-investor Vintage Classic, in its wholly owned subsidiary, Pivot Path.

The transaction values Pivot Path at ~Rs 230 crore on a post-money basis, enables Strides to realise Rs 100 crore while retaining a ~20% stake, and includes a primary capital infusion of Rs 50 crore to accelerate Pivot Path's next phase of growth.

The transaction reflects Strides' strategy of creating, scaling and unlocking value from high-potential businesses while retaining participation in their future growth. It also strengthens the company's balance sheet and provides growth capital for Pivot Path to pursue its expansion strategy.

Pivot Path originated within Arco Lab, Strides' Global Capability Centre (GCC), where it developed capabilities across life sciences consulting, digital transformation, quality and compliance, and technology-enabled operational services. As demand from external pharmaceutical and life sciences companies grew, the business evolved into an independent platform serving industry-leading customers.

To support its next phase of growth, serve global customers effectively, build agentic-AI platforms, and enable access to external capital, the business was carved out into Pivot Path pursuant to a Scheme of Arrangement approved by the National Company Law Tribunal (NCLT) in May 2026.

Following completion of the transaction Pivot Path shall be reclassified as an Associate of the Company.

Pivot Path has established a profitable operating platform serving specialised, high-value segments within the life sciences industry. For FY26, the carved-out business reported revenue of Rs 144.7 crore (including revenues for services rendered to Strides) and EBITDA of Rs 16.9 crore, demonstrating its operating scale and growth trajectory.