Solara Active Pharma Sciences Ltd (Solara) (NSE: SOLARA; BSE: 541540), a leading Active Pharmaceutical Ingredient / CRAMS company, today announced that the Rights Issue Committee (Committee) of the Company finalized the terms of the proposed rights issue to raise Rs. 449.95 Crores.
The Issue price approved by the Committee is Rs. 375/- per equity share of FV of Rs. 10/- each (including a premium of Rs. 365/- per equity share), which is based on the 90-day vwap average price calculated as on July 5, 2023, on which date the Rights Issue was originally approved by the Board of Directors.
The shareholders will be entitled to receive 1 (one) equity share for every 3 (three) equity shares held by them in the Company as on the record date, which is May 15, 2024.
The Promoters have committed to subscribe to their portion of the entitlement.
The issue is scheduled to open on May 28, 2024 and will close on June 11, 2024.
Choice Capital Advisors Private Limited are the Lead Managers to the Issue.
The record date fixed by the Company for the purpose of determining the shareholders entitled for Rights Issue is Wednesday May 15, 2024.
Shares of Solara Active Pharma Sciences Limited was last trading in BSE at Rs. 504.55 as compared to the previous close of Rs. 514.35. The total number of shares traded during the day was 27690 in over 1805 trades.
The stock hit an intraday high of Rs. 523.55 and intraday low of 502.35. The net turnover during the day was Rs. 14136426.00. |
