The National Company Law Tribunal (NCLT) has approved the demerger of Arco Lab Private Limited's Life Sciences and Digital Innovation businesses into Pivot Path Private Limited. Strides Pharma Science will retain full ownership of the newly formed Pivot Path following the completion of this corporate restructuring. The final order approving the scheme was made available on the NCLT portal on May 20, 2026.

NCLT Approval and Restructuring Details

The NCLT's approval marks a key regulatory milestone in the reorganisation of Arco Lab's operations. The demerger encompasses two distinct business verticals — Life Sciences and Digital Innovation — both of which will be consolidated under the Pivot Path entity. The scheme was sanctioned under Sections 230–232 of the Companies Act, 2013. The order was pronounced by the Hon'ble NCLT, Bengaluru Bench on May 18, 2026.

The following table summarises the key parameters of the approved demerger:

Strategic Significance

The creation of Pivot Path through the demerger of Arco Lab's Life Sciences and Digital Innovation divisions reflects a structured approach to reorganising these business segments. By establishing Pivot Path as a wholly owned entity, Strides Pharma maintains consolidated control over the spun-off operations. The NCLT's sanction provides the necessary legal framework for the restructuring to proceed.

Upon the scheme becoming effective, Pivot Path shall become a wholly owned subsidiary of Strides. The Board of Directors of Arco Lab and Pivot Path shall fix the Record Date for the allotment of shares to Strides Pharma Science Limited. Shares of Pivot Path held by Arco Lab shall be extinguished in due course. The Effective Date of the scheme shall be communicated to the Stock Exchanges in due course.

Strides Pharma Science Limited's Board of Directors approved significant changes to its composition and senior leadership, effective June 1, 2026, following a meeting held on May 18, 2026. These decisions, based on recommendations from the Nomination and Remuneration Committee, are part of the company's comprehensive succession planning framework aimed at strengthening executive management representation and promoting internal talent. The board meeting commenced at 12:30 hrs IST and concluded at 14:15 hrs IST.

Key Board and Management Changes

The following changes to the Board of Directors and senior leadership have been approved:

Elevation of Ramaraju PVS as Executive Director

Venkata Seetharama Raju Pakalapati, widely known as Ramaraju PVS or Ram, has been appointed as a whole-time director designated as Executive Director for a period of three years with effect from June 1, 2026, subject to shareholders' approval. Ramaraju has been part of the Strides group for over 18 years and brings more than two decades of experience in the pharmaceutical and healthcare industry. His leadership approach is characterised by strategic foresight, collaborative synergy, and an unwavering commitment to excellence. As Executive Director, he will be responsible for overseeing global technical operations and the strategic management of critical functions including Manufacturing, Supply Chain, Procurement, and new digital initiatives. Consequent to this elevation, Ramaraju is designated as Key Managerial Personnel (KMP) effective June 1, 2026, and will cease as Senior Management Personnel (SMP) with effect from end of business hours of May 31, 2026.

Aditya Arun Kumar Transitions to Non-Executive Role

Aditya Arun Kumar has been redesignated as Non-Executive Director (Non-Independent) of the company with effect from June 1, 2026, subject to shareholders' approval. Aditya tendered his resignation from the executive role on May 13, 2026, citing the promoters' stated intention to further professionalize the management of Strides. He holds a Bachelor's Degree in Biomedical Sciences from Newcastle University and a Master of Research in Biophysics from King's College, London, and has over 13 years of experience in the pharmaceutical industry. Aditya commenced his career with Strides as a Management Trainee and has since held multiple roles across Strides and the promoter Family Office. He played a significant role in expanding and strengthening the partnered and B2B business verticals, having led the B2B business since 2022. Consequently, Aditya will cease to hold office as Executive Director – Business Development and as KMP with effect from end of business hours of May 31, 2026.

Nandini Matiyani and Ariff Khan Nominated as SMP

Nandini Matiyani has been nominated as Senior Management Personnel effective June 1, 2026. She has been part of Strides since December 2025 and brings over two decades of experience in human resources. Prior to joining Strides, she held senior HR leadership roles at RateGain, Wipro, and OnMobile Global.

Ariff Khan, Executive VP – Manufacturing Operations, has been nominated as SMP effective June 1, 2026, consequent to Ramaraju PVS's elevation to the Board. Ariff has been associated with Strides since May 2024 and currently heads manufacturing operations across India. He holds a Master's degree in Pharmacy and brings over 26 years of experience in the pharmaceutical sector.

Updated Board and KMP Composition

Following these changes, the updated Board of Directors of Strides Pharma Science effective June 1, 2026 comprises the following members:

The updated KMP list effective June 1, 2026 includes Badree Komandur (Managing Director & Group CEO), Venkata Seetharama Raju Pakalapati (Executive Director), Vikesh Kumar (Group CFO), and Manjula Ramamurthy (Company Secretary & Compliance Officer).