Solara Active Pharma Receives Call Money, Converts Partly Paid Rights Shares

Solara Active Pharma Sciences Ltd. ( (IN:SOLARA) ) has issued an update.

Solara Active Pharma Sciences Ltd. has received first call money totaling about Rs. 93.7 lakh for 71,402 partly paid-up rights equity shares following a second reminder to shareholders. The Rights Issue Committee has approved converting these shares from Rs. 3.50 paid-up to Rs. 7 paid-up each, increasing the company’s paid-up capital and altering the mix of fully and partly paid shares on its register.

Following this conversion, Solara’s paid-up capital now stands at approximately Rs. 44.51 crore, spread across fully paid and partly paid rights equity shares with different paid-up amounts and ISINs. The company plans to complete the necessary corporate actions to obtain listing and trading approvals for the converted rights equity shares, which will formalize their tradability and further consolidate its capital structure.

More about Solara Active Pharma Sciences Ltd.

Solara Active Pharma Sciences Ltd. operates in the pharmaceutical sector, focusing on active pharmaceutical ingredients and related products for global generic and specialty drug markets. The company is listed on Indian stock exchanges and raises capital through equity, including rights issues, to support its business and growth plans.

Average Trading Volume: 7,617

Technical Sentiment Signal: Sell

Current Market Cap: 22.27B INR

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