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Solara Active Pharma Sciences finalized terms of the proposed rights issue to raise Rs. 449.95 crore.
The Issue price approved by the Committee is Rs. 375/- per equity share of FV of Rs. 10/- each (including a premium of Rs. 365/- per equity share.
The shareholders will be entitled to receive 1 (one) equity share for every 3 (three) equity shares held by them in the Company as on the record date, which is 15 May 2024.
The issue will initially be partly paid followed by 2 calls as under:
Application money (35%) - June 2024
First call (35%) - April 2025
Final call (30%) - April 2026
The issue is scheduled to open on 28 May 2024 and will close on 11 June 2024.
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