India, June 28 -- image credit- freepik

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 Pat...