Solara Active Pharma Rights Issue is scheduled on 28 May – 11 June 2024
Solara Active Pharma Sciences is a global company focused on research and development, specializing in the production and development of Active Pharmaceutical Ingredients (APIs). It also provides Contract Manufacturing and Development Services for international companies. Solara Active Pharma Sciences is involved in the business of manufacturing, production, processing, formulation, sale, import, export, merchandising, distribution, and trading of Active Pharmaceutical Ingredients (APIs).
The company operates six large-scale multi-product facilities that adhere to high compliance standards, supported by a team of over 2,300 employees. Its business spans 75 countries, with significant operations in key markets such as North America, Europe, Japan, South Korea, and the Middle East and North Africa.
As of February 2024, the company offers over 60 commercial Active Pharmaceutical Ingredients (APIs), with an additional 10 APIs currently in development.
Promoters of Solara Active Pharma –
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Solara Active Pharma Rights Issue Details
| Solara Active Pharma Rights Issue Date | 28 May – 11 June 2024 |
| Solara Active Pharma Rights Issue Price | INR 375 per share |
| Issue Size (in Shares) | 1,19,98,755 shares |
| Issue Size (in INR) | INR 449.95 crore |
| Issue Entitlement | 1 equity shares for every 3 equity shares held on record date |
| Terms of Payment | Partly paid-up Equity Shares; In three calls i.e. 35% on the application; 35% on the first call and 30% on the final call. |
| Rights Issue Record Date | 15 May 2024 |
| Face Value | INR 10 per share |
| Listing On | BSE, NSE |
Solara Active Pharma Rights Issue Calculation
| Solara Active Pharma Rights Issue Price | INR 375 per share |
| Market Price on Rights Issue Approval | INR 496 per share |
| Dilution Factor (X) | 1.33 |
| Fair Value After Dilution at Prevailing Price | INR 465.75 per share |
Solara Active Pharma Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 |
| Revenue | 1,616.88 | 1,268.34 | 1,443.81 |
| Expenses | 1,316.02 | 1,266.75 | 1,399.83 |
| Operating Margin (%) | 25.59 | 7.54 | 10.82 |
| Net Income | 220.96 | (58.56) | (22.21) |
| ROCE (%) | 15.0 | (0) | 2.0 |
Solara Active Pharma Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
Solara Active Pharma Rights Offer Documents
- Solara Active Pharma Rights Issue Application Form
- Solara Active Pharma Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Solara Active Pharma Rights Issue Dates
| Rights Issue Approval Date | 9 May 2024 |
| Rights Issue Record Date | 15 May 2024 |
| Credit of Rights Entitlement | 27 May 2024 |
| Rights Issue Opening Date | 28 May 2024 |
| Last Date for Market Renunciation | 5 June 2024 |
| Rights Issue Closing Date | 11 June 2024 |
| Finalization of Basis of Allotment | 18 June 2024 |
| Rights Allotment Date | 19 June 2024 |
| Credit Date | 19 June 2024 |
| Listing Date | 20 June 2024 |
Solara Active Pharma Rights Offer Lead Manager
CHOICE CAPITAL ADVISORS PRIVATE LIMITED
Sunil Pataodia Tower, Plot No. 156-158, J.B. Nagar,
Andheri (East), Mumbai – 400 099, Maharashtra
Phone:Â +91 22 6707 9999 / 7919
Email:Â [email protected]
Website: www.choiceindia.com
Solara Active Pharma Rights Offer Registrar
CAMEO CORPORATE SERVICES LIMITED
Subramanian Building, No.1, Club House Road,
Chennai – 600 002, Tamil Nadu, India
Phone: 044 – 4002 0700
Email:Â [email protected]
Website: www.cameoindia.com
Solara Active Pharma Contact Details
SOLARA ACTIVE PHARMA SCIENCES LIMITED
2nd Floor, Admin Block 27, Vandaloor Kelambakkam Road,
Keelakottaiyur Village, Melakottaiyur (Post) Chennai – 600 127
Phone:Â +91 44 43446700
Email:Â [email protected]
Website: www.solara.co.in
Solara Active Pharma Rights Offer FAQs
What is the Solara Active Pharma Rights Issue Price?
The issue price is INR 375 per share.
What is the Solara Active Pharma Rights Issue entitlement ratio?
The eligible shareholders are offered 1 Equity Share for every 3 Equity Share held on the record date.
What is the Solara Active Pharma Rights Issue Record Date?
The Record date is 15 May 2024.
How to Apply for Solara Active Pharma Rights Offer?
The best way to apply for Solara Active Pharma Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
