Solara Active Pharma Sciences Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

SOLARA · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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AI summary

Solara Active Pharma Sciences Limited has filed a compliance statement confirming there is NO deviation or variation in the use of proceeds from its Rights Issue. The company raised Rs. 309.79 crores through a partly paid Rights Issue, with funds being used for repayment of borrowings (Rs. 233.61 crores utilized out of Rs. 334.71 crores allocated) and general corporate purposes (Rs. 74.97 crores utilized out of Rs. 112.24 crores allocated). As of March 31, 2026, Rs. 1.20 crores remained unutilized in the monitoring agency account. The Audit Committee reviewed and approved the statement without any comments. CRISIL Ratings Limited is the monitoring agency.

Likely market impact

This is a routine compliance filing with positive governance implications. The confirmation of no deviation indicates the company is using rights issue proceeds as disclosed in the offer document, which is reassuring for existing and prospective shareholders.