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Solara Active Pharma Sciences Ltd Rights Issue (Solara Active Pharma Sciences Rights Issue 2024) Detail

May 28, 2024 - June 11, 2024
Solara Active Pharma Sciences Ltd Logo

Solara Active Pharma Limited was founded in 2015 and develops and manufactures commercial Active Pharmaceutical Ingredients (API) for a wide range of therapeutic categories.

The company's manufacturing facilities are located in Ambernath, Maharashtra; Cuddalore, Tamilnadu; Mangaluru, Karnataka; Pondicherry; Mysore and Vizag.
Some of the therapeutic APIs in the company's product list include Amyotrophic Lateral Sclerosis, Anesthetics, Anthelmintics, Anti-Hyperlipidemics and so on.

As of February 2024, the company offers more than 60 commercial APIs, and 10 more APIs are currently in the development pipeline.

Solara Active Pharma Sciences Rights Issue 2024 Detail

Issue Open May 28, 2024 - June 11, 2024
Security Name Solara Active Pharma Sciences Ltd
Issue Size (Shares) 11,998,755
Issue Size (Amount) ₹449.95 Crores
Issue Price ₹375 per share
Face Value ₹10 per share
Listing At BSE, NSE
Terms of Payment

Issue Price of Rs.375/- per share is payable as Rs.131.25 per share on Application. The remaining amount will be called within 24 months from the date of allotment in the Issue or within such extended period as may be determined by the Board or Rights Issue Committee of the Company at its sole discretion from time to time.

Entitlement 1 Rights Equity Share(s) for every 3 fully paid-up Equity Shares held on Record Date

Solara Active Pharma Sciences Rights Issue 2024 Issue Timetable

Last Date to buy sharesMay 14, 2024
Record Date May 15, 2024
Credit of Rights Entitlements May 27, 2024
Bid/Offer Opens On May 28, 2024
Renunciation of Rights Entitlements June 5, 2024
Bid/Offer Closes On June 11, 2024
Deemed Date of Allotment June 19, 2024
Credit Date June 19, 2024
Listing Date June 20, 2024

Company Financials

Solara Active Pharma Sciences Ltd Financial Information (Restated Consolidated)

Solara Active Pharma Sciences Ltd's revenue increased by 13.82% and profit after tax (PAT) rose by 61.85% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended31 Mar 202331 Mar 202231 Mar 2021
Assets28.9929.4526.14
Revenue14.6612.8816.46
Profit After Tax-0.22-0.582.21
Amount in ₹ Crore

Objects of the Issue:

The company intends to utilize the Net Proceeds from the Issue towards the following objects:

  1. Repayment and/or pre-payment, in full or part, of certain outstanding borrowings availed by the company; and
  2. General corporate purposes.

Solara Active Pharma Sciences Rights Issue 2024 Subscription Status

Solara Active Pharma Sciences Rights Issue 2024 got oversubscribed by 1.45 times by the end of the bidding period with total bid quantity received by BSE and NSE of 17,383,455 shares.

Solara Active Pharma Sciences Rights Issue 2024 Documents

Solara Active Pharma Sciences Rights Issue 2024 Rating

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Solara Active Pharma Sciences Rights Issue 2024 Reviews

Company Contact Information

Solara Active Pharma Sciences Ltd
201, Devavrata,
Sector 17,
Vashi Navi Mumbai - 400703

Phone: +91-22-2789 2924
Email: investors@solara.co.in
Website: http://www.solara.co.in/

Solara Active Pharma Sciences Rights Issue 2024 Registrar

  1. Cameo Corporate Services Limited
    Phone: +91-44-28460390
    Email: rights@cameoindia.com
    Website: https://ipo.cameoindia.com/

Solara Active Pharma Sciences Rights Issue 2024 Lead Manager(s)

Solara Active Pharma Sciences Rights Issue 2024 FAQs

The Solara Active Pharma Sciences Rights Issue 2024 opens on May 28, 2024, and closes on June 11, 2024.

Solara Active Pharma Sciences Rights Issue 2024 Schedule

Last Date for credit of Rights EntitlementsMay 27, 2024
Last Date for renunciation of Rights EntitlementsJune 5, 2024
Issue Opening DateMay 28, 2024
Issue Closing DateJune 11, 2024
Date of Allotment (on or about)June 19, 2024
Date of Credit (on or about)June 19, 2024
Date of Listing (on or about)June 20, 2024

Solara Active Pharma Sciences Rights Issue 2024 price is set at ₹375 per share per equity share.

The eligible shareholders are being offered 1 Rights Equity Share(s) for every 3 fully paid-up Equity Shares held on Record Date (May 15, 2024).

The record date for the Solara Active Pharma Sciences Rights Issue 2024 is May 15, 2024.

The issue size of Solara Active Pharma Sciences Rights Issue 2024 is of 11,998,755 equity shares at ₹375 per share aggregating upto ₹449.95 Crores.

The Letter of Offer for Solara Active Pharma Sciences Rights Issue 2024 can be download here.

You can apply for Solara Active Pharma Sciences Rights Issue 2024 in two ways:

  1. Net Banking (ASBA)
  2. Registrar's Website (R-WAP Facility)

Steps to apply for Solara Active Pharma Sciences Rights Issue 2024 using Net Banking (ASBA)

  1. Log in to the net banking account of your bank.
  2. Go to the 'IPO & Rights Issue' section.
  3. Check if the Solara Active Pharma Sciences Rights Issue 2024 available on the list.
  4. Click the Apply button next to the Solara Active Pharma Sciences Rights Issue 2024.
  5. Fill and check your information.
  6. Submit the application.

Note: Your bank may not offer this facility to certain rights issues. In that case, you may have to choose the option below.

Steps to apply for Solara Active Pharma Sciences Rights Issue 2024 using Registrar's website (R-WAP)

  1. Visit registrar's website
  2. Go to the 'Rights Issue' section
  3. Select Solara Active Pharma Sciences Rights Issue 2024 from the dropdown.
  4. Enter Demat Account Number.
  5. Fill the online application form.
  6. Validate and submit the application.

1 Comments

1. Emotions     Link|June 21, 2024 2:50:36 PM
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