Conversion Of Partly Paid Up Rights Equity Shares into Fully Paid Up Equity Shares in Relation to The Rights Issue by the Company, upon receipt of the Second and Final Call Monies
SOLARA · price
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Solara Active Pharma Sciences has completed the conversion of 1,15,50,478 partly paid-up rights equity shares into fully paid-up equity shares. The company received Rs. 1,29,94,28,775 (approximately Rs. 130 crores) as Second and Final call money at Rs. 112.50 per share. These shares were originally allotted on June 19, 2024 through a rights issue. The conversion was approved by the Rights Issue Committee on May 15, 2026. After this conversion, the company's paid-up capital stands at Rs. 47,98,12,464.50 comprising 4,77,25,485 fully paid-up equity shares of Rs. 10 each. Some partly paid-up shares still remain outstanding (2,82,470 shares at Rs. 7 paid-up and 1,65,807 shares at Rs. 3.50 paid-up).
This is an administrative completion of a rights issue process. Shareholders who paid the call money will now have fully paid-up shares, which should remove the overhang of partly paid shares and regularize the share capital. The stock may see improved liquidity once the converted shares are listed.