In continuation to Press Release dated July 4, 2023, and intimation dated December 1, 2023, Strides Pharma Science has informed that Stelis Biopharma, an associate company of Strides, has provided the following update about the transaction with Syngene to transfer Stelis’ Unit 3 multi-modal facility in Bengaluru: As informed vide the December 1, 2023, announcement, gross consideration for the transaction was INR 617 crores. Post certain adjustments, the net consideration receivable was INR 563.2 crores. On December 1, 2023, Stelis received INR 395 crores. Post completion of certain post-closing actions and final adjustments, Stelis has further received INR 158.2 crores on December 22, 2023. Syngene is withholding INR 10 crores, which shall be released post fulfilment of few additional conditions by Stelis.
The above information is a part of company’s filings submitted to BSE.
