Strides Pharma Science has received approval for investment not exceeding Rs 1.61 crore in the securities of AMPIN Energy C&I One (AMPIN C&I). This project will facilitate harnessing solar energy at the company’s Alathur facility. 

The proposed arrangement is for purchase of electricity/ power as captive user on mutually agreed terms and conditions for utilization at company’s facility in Alathur, Chennai. This is in line with Strides’ commitment to enhance usage of renewable power source in its operations and to comply with the regulatory requirement for being a ‘captive user’ under Indian Electricity Laws. Such investment shall be used by AMPIN C&I for setting up captive solar power projects in Tamil Nadu.  The said transaction is expected to be completed in Q4FY25. The Board of Directors of the Company at their meeting held on October 24, 2024, have approved the same. 

Strides Pharma Science (Formerly Strides Shasun) is a pharmaceutical company with a major focus on development and manufacture of IP-led niche finished dosage formulations. It is also among the world’s largest manufacturers of soft gelatin capsules.