Solara Active Pharma Sciences Limited has informed the Exchange regarding submission of Monitoring Agency Report for the quarter ended June 30 , 2025 received from CRISIL Ratings Limited
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Solara Active Pharma Sciences has submitted the Monitoring Agency Report from CRISIL Ratings for the quarter ended June 30, 2025, tracking how it has used the money raised through its Rights Issue held in May–June 2024. The total issue size was Rs 449.95 crore (net proceeds Rs 446.95 crore), earmarked for repaying borrowings (Rs 334.71 crore) and general corporate purposes (Rs 112.24 crore). As of June 30, 2025, the company has utilized Rs 292.75 crore in total, with Rs 138.27 crore deployed during the quarter, leaving Rs 154.20 crore unutilized — of which Rs 134.99 crore is yet to be raised through a second call planned for FY27. CRISIL confirmed there is no deviation from the stated objects of the issue. A minor disclosure notes that Rs 40 crore was used to repay an unsecured loan to Radiant Computech Private Limited, a lender not originally named in the offer document, though the company has a Board resolution ratifying this transaction.
This is a routine regulatory filing with no negative surprise — funds are being used as planned and there is no deviation. Shareholders should note that roughly 35% of the net proceeds are still pending and will only be available after a second call in FY27, while the Radiant Computech loan repayment, though Board-approved, is a small governance point worth tracking.