Solara Active Pharma Sciences announced the closure of its rights issue. The issue opened on 28 May 2024 and closed on 11 June 2024 for issue of 1,19,98,755 equity shares for raising Rs 449.95 crore, at an issue price of Rs 375 per equity share. The Issue was oversubscribed by ~1.44 times. Powered by Capital Market - Live News

Net loss of Solara Active Pharma Sciences reported to Rs 255.34 crore in the quarter ended March 2024 as against net profit of Rs 3.77 crore during the previous quarter ended March 2023. Sales declined 21.33% to Rs 299.43 crore in the quarter ended March 2024 as against Rs 380.62 crore during the previous quarter ended March 2023.For the full year,net loss reported to Rs 567.39 crore in the year ended March 2024 as against net loss of Rs 22.17 crore during the previous year ended March 2023. Sales declined 10.73% to Rs 1288.92 crore in the year ended March 2024 as against Rs 1443.81 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales299.43380.62 -21 1288.921443.81 -11 OPM %3.2612.81 --7.389.27 - PBDT-19.2331.49 PL -194.9266.38 PL PBT-44.485.04 PL -298.25-44.81 -566 NP-255.343.77 PL -567.39-22.17 -2459 Powered by Capital Market - Live News

Solara Active Pharma Sciences will hold a meeting of the Board of Directors of the Company on 29 May 2024Powered by Capital Market - Live News

Solara Active Pharma Sciences finalized terms of the proposed rights issue to raise Rs. 449.95 crore. The Issue price approved by the Committee is Rs. 375/- per equity share of FV of Rs. 10/- each (including a premium of Rs. 365/- per equity share.The shareholders will be entitled to receive 1 (one) equity share for every 3 (three) equity shares held by them in the Company as on the record date, which is 15 May 2024.The issue will initially be partly paid followed by 2 calls as under:Application money (35%) - June 2024First call (35%) - April 2025 Final call (30%) - April 2026 The issue is scheduled to open on 28 May 2024 and will close on 11 June 2024.Powered by Capital Market - Live News

Solara Active Pharma Sciences has completed the sale of 100% stake in SeQuent Penems to Symbio Generrics India for a cash consideration of Rs.12.50 crore on 25 April 2024. Hence, SeQuent Penems ceased to be a subsidiary of the Company.Powered by Capital Market - Live News