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.
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Solara Active Pharma Sciences has completed its rights issue process by receiving the second and final call money of Rs. 112.50 per share, totalling approximately Rs. 129.94 crore from 1.15 crore rights equity shares. The company's Rights Issue Committee, in its meeting on May 15, 2026, approved the conversion of these 1.15 crore partly paid-up equity shares (originally allotted on June 19, 2024 with Rs. 7 paid-up) into fully paid-up equity shares with Rs. 10 paid-up each. Post this conversion, the company has about 4.78 crore fully paid-up equity shares, with a small residual of 2,82,470 shares still partly paid (Rs. 7 paid) and 1,65,807 shares partly paid (Rs. 3.50 paid). The company will now seek necessary listing and trading approvals for the newly converted shares.
The conversion completes a major corporate action for Solara Active Pharma Sciences, bringing all contributed rights shares to full paid-up status and strengthening the company's equity base. This removes the overhang of partly paid shares and regularises the capital structure, which is a positive housekeeping development for shareholders.