Key Quantitative Figures

  • Total amount raised through rights issue: ₹446.62 Crores
  • Date of raising funds: August 19, 2026 (date of noting receipt of call money pursuant to final reminder notice)
  • Funds utilized for debt repayment: ₹334.71 Crores
  • Funds utilized for general corporate purposes: ₹112.24 Crores
  • Total utilized: ₹442.88 Crores
  • Amount held in Rights issue allotment account (Escrow): ₹0.14 Crores
  • Amount held in Monitoring account: ₹3.60 Crores
  • Quarterly utilization (Q2 FY27): ₹1.25 Crores (₹1.10 Cr debt repayment + ₹0.15 Cr GCP)

Dates of Action

  • Audit Committee meeting: October 16, 2026
  • Quarter ended: September 30, 2026

Parties Involved

  • Monitoring Agency: CRISIL Ratings Limited
  • Audit Committee of Solara Active Pharma Sciences Limited

Financial Impact

No deviation or variation in use of proceeds raised through Rights Issue. All funds utilized according to original objects:

  • Debt repayment object: Original allocation ₹334.71 Crores, utilized ₹334.71 Crores
  • General Corporate Purpose: Original allocation ₹111.57 Crores, modified to ₹112.24 Crores (including ₹0.67 crore surplus issue expenses), utilized ₹105.17 Crores

Capital Structure Impact

The disclosure includes detailed history of the rights issue process:

  • Rights Equity Shares issued as partly paid-up at ₹131.25 per share (₹3.5 face value + ₹127.75 premium)
  • Multiple call payments and conversion events between March 2025 and August 2026
  • Final conversion of 2,79,582 partly paid shares into fully paid shares of ₹10 each

Current Status

  • Total utilized: ₹442.88 Crores (99.16% of raised funds)
  • Remaining funds: ₹3.74 Crores (₹0.14 Cr in escrow + ₹3.60 Cr in monitoring account) for future utilization

Audit Committee Review

The Audit Committee reviewed the statement at its October 16, 2026 meeting and approved it for submission to stock exchanges without any comments.