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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.
| 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 |
| Last Date to buy shares | May 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 |
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 Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 28.99 | 29.45 | 26.14 |
| Revenue | 14.66 | 12.88 | 16.46 |
| Profit After Tax | -0.22 | -0.58 | 2.21 |
| Amount in ₹ Crore | |||
The company intends to utilize the Net Proceeds from the Issue towards the following objects:
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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/
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: rights@cameoindia.com
Website: https://ipo.cameoindia.com/
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 Entitlements | May 27, 2024 |
| Last Date for renunciation of Rights Entitlements | June 5, 2024 |
| Issue Opening Date | May 28, 2024 |
| Issue Closing Date | June 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:
Steps to apply for Solara Active Pharma Sciences Rights Issue 2024 using Net Banking (ASBA)
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)
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