Solara Active Pharma Sciences Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Awaiting price reaction for this filing.
Solara Active Pharma Sciences has filed its quarterly Reg. 32 compliance statement for the quarter ended March 31, 2025, confirming that the proceeds from its Rights Issue have been used entirely as per the originally stated objects, with no deviation or variation. The Rights Issue was conducted on June 19, 2024, raising approximately Rs. 157.48 crores through the allotment of nearly 1.2 crore partly paid-up equity shares at Rs. 375 per share. Of the funds raised, Rs. 118.61 crores were used to repay/pre-pay certain borrowings (fully utilized by June 30, 2024), and Rs. 35.87 crores were deployed for general corporate purposes. CRISIL Ratings served as the monitoring agency, and the Audit Committee reviewed and approved the statement on May 15, 2025, with no comments.
This is a routine compliance filing with a clean, NIL deviation report, which is a neutral-to-positive signal — investors can take comfort that the company's fund-raising was used as promised. No material price action is expected from this disclosure on its own.