Solara Active Pharma Sciences Rights Issue: Things To Know

Solara Active Pharma Sciences Limited is coming with its rights issue next week. The bid opens on May 28, 2024 and closes on June 11, 2024. The last date to buy shares is Tuesday, May 14, 2024. The record date of this new issue is Wednesday, May 15, 2024. The issue size is of 11,998,755 equity shares amounting to Rs 449.95 crores. The issue price is Rs 375 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy Solara Active Pharma Sciences equity shares at a discounted price. Solara Active Pharma Sciences's share price is Rs 495.45 per share. The eligible shareholders are being offered one Rights Equity share for every three fully paid-up equity shares held on a May 15, 2024, record date. The payment terms are decided as the full amount of Rs 375 per share is payable on application. Through this rights issue, the company plans to raise Rs 449.95 crores. The registrar and lead managers for this issue have yet to be announced. 

About Solara Active Pharma Sciences Limited

Solara Active Pharma Sciences Limited was founded in 2015 and develops and manufactures commercial active pharmaceutical ingredients (API) for various therapeutic categories. The pillars of Solara 2.0 are API, R&D, CRAMS and People. The company can design and manufacture top quality manufacturing APIs across various therapeutic categories. With a distinguished history spanning over three decades, the company has developed an impressive track record of success in bringing complex products to market, including cutting-edge polymer-based API and injectables. The company’s manufacturing facility is located in Ambernath, Maharashtra; Cuddalore, Tamil Nadu; Mangluru, Karnataka; Pondicherry, Mysore; and Vizag. 

Objectives of Solara Active Pharma Sciences Issue

The main objective of this rights issue is to arrange funds from its existing equity shareholders. The issue price is at a huge discount from the current market price which is an excellent opportunity for existing to add more shares. However, the company didn't tell yet where funds will be allocated.

Financials Details of Solara Active Pharma Sciences Limited  (Amt in Rs Crores)

Solara Active Pharma Sciences Limited posted a revenue of Rs 14.66 crore and net loss of Rs -0.22 crore for the period ending on 31 March 2023. The company’s revenue increased by 13.82% and PAT increased by 61.85% between the FY ending on 31 March 2023 and 31 March 2022.

Important Details for Solara Active Pharma Sciences Limited Rights Issue

Timetable of Solara Active Pharma Sciences Limited Rights Issue

How to Apply for Solara Active Pharma Sciences Limited Rights Issue?

Wait for the public issue to open for subscription, then click here to apply for the Solara Active Pharma Sciences Limited Rights Issue with Bigul.

How do you check the allotment status of the Solara Active Pharma Sciences Limited Rights issue? 

The registrar for this upcoming rights issue is not yet announced. Once it gets announced, inventors can check the allotment by visiting their website. 

FAQs

1. What are the details of Solara Active Pharma Sciences Limited Rights Issue?

The issue size is of 11,998,755 equity shares amounting to Rs 449.95 crores. The issue price is set at Rs 375 per share, and the face value is at Rs 10 per share. This issue will give existing shareholders eligibility to buy Solara Active Pharma Sciences equity shares at a discounted price. The issue price is set at Rs 375 per share, and the face value is at Rs 10 per share. 

2. When does the Rights Issue open and close?

The bid opens on May 28, 2024 and closes on June, 2024. The last date to buy shares is Tuesday, May 14, 2024. The record date of this new issue is Wednesday, May 15, 2024. 

3. How can I apply for the Solara Active Pharma Sciences Limited Rights Issue?

You can apply for the Rights Issue once it opens for a subscription. Just click here to apply with Bigul.

4. How can I check the allotment status of the Solara Active Pharma Sciences Limited Issue?

 The registrar for this upcoming rights issue has not yet been announced. Once it is, inventors can check the allotment by visiting their website.

5. What is the objective of Solara Active Pharma Sciences Limited Rights Issue?The main objective of this rights issue is to arrange funds from its existing equity shareholders. The issue price is at a huge discount from the current market price which is an excellent opportunity for existing to add more shares. However, the company didn't tell yet where funds will be allocated.

6. What is the record date for the Solara Active Pharma Sciences Limited Rights Issue?

The record date, which determines the shareholders eligible for the Rights Issue, is set for May 15, 2024.

7. Where will the Solara Active Pharma Sciences Limited Right Issue be listed?

The Rights Issue will be listed on the BSE, NSE.

8. What is the entitlement ratio for the Solara Active Pharma Sciences Limited Right Issue?  

The entitlement ratio is set at one Rights equity Shares for every three fully paid-up equity shares held on record date May 15, 2024.