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Strides Pharma Science Ltd on Wednesday (December 11) said it's planning to list OneSource Specialty Pharma Ltd shares on stock exchanges in the fourth quarter of FY25.
The company is in the process of submitting its Information Memorandum in December 2024 to secure the required listing approval. Until the shares are listed, they will remain frozen in the depositories' systems.
As part of the demerger scheme approved by the National Company Law Tribunal, OneSource has completed the allotment of equity shares to Strides Pharma shareholders.
Eligible shareholders, as of the record date of December 6, 2024, have received one fully paid equity share of ₹1 each in OneSource for every two equity shares of ₹10 held in Strides Pharma. The allotment was finalised on December 10, 2024.
For shareholders holding Strides Pharma shares in physical form, OneSource will consolidate their unclaimed shares into an "Unclaimed Securities – Suspense Escrow Account." These shares will be transferred to the respective shareholders once they convert their holdings to demat form and provide the required details.
Fractional entitlements arising from the allotment will be consolidated and managed by Catalyst Trusteeship Limited, which will sell the shares within 90 days of the allotment and distribute the net proceeds to eligible shareholders, after deductions for expenses and taxes.
Shares of Strides Pharma Science Ltd ended at ₹739.00, down by ₹9.15, or 1.22% on the BSE.
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The company is in the process of submitting its Information Memorandum in December 2024 to secure the required listing approval. Until the shares are listed, they will remain frozen in the depositories' systems.
As part of the demerger scheme approved by the National Company Law Tribunal, OneSource has completed the allotment of equity shares to Strides Pharma shareholders.
Eligible shareholders, as of the record date of December 6, 2024, have received one fully paid equity share of ₹1 each in OneSource for every two equity shares of ₹10 held in Strides Pharma. The allotment was finalised on December 10, 2024.
For shareholders holding Strides Pharma shares in physical form, OneSource will consolidate their unclaimed shares into an "Unclaimed Securities – Suspense Escrow Account." These shares will be transferred to the respective shareholders once they convert their holdings to demat form and provide the required details.
Fractional entitlements arising from the allotment will be consolidated and managed by Catalyst Trusteeship Limited, which will sell the shares within 90 days of the allotment and distribute the net proceeds to eligible shareholders, after deductions for expenses and taxes.
Shares of Strides Pharma Science Ltd ended at ₹739.00, down by ₹9.15, or 1.22% on the BSE.
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