Solara Active Pharma Sciences Limited has informed the Exchange regarding 'Outcome of the Rights Issue Committee Meeting - Receipt of the First Call money in connection with the Shares issued on Rights basis'.
SOLARA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Solara Active Pharma Sciences has received the First Call money of Rs. 131.25 per share on its partly paid-up Rights Equity Shares originally allotted on June 19, 2024. The company collected approximately Rs. 149.49 crore from 1,13,89,767 shares, which included a face value component of Rs. 3.50 and a securities premium of Rs. 127.75 per share. These shares have now been converted from Rs. 3.50 paid-up to Rs. 7.00 paid-up status. However, 6,08,988 shares (Rs. 7.99 crore) remained unpaid as of the announcement date, indicating some shareholders did not respond to the call. The company's total paid-up capital now stands at Rs. 36.05 crore across 3.60 crore fully paid-up shares plus 1.14 crore partly paid-up shares.
For shareholders, this means an additional capital call has been successfully collected, strengthening the company's equity base, though the small unpaid portion may lead to forfeiture proceedings. The stock may see minor dilution adjustments as partly paid shares move toward full paid-up status.