Solara Active Pharma Sciences - PP has reported no deviation in the utilization of proceeds from its rights issue, according to the latest monitoring agency report for the quarter ended September 30, 2025. The report, issued by CRISIL Ratings Limited, confirms that the company's use of funds aligns with the objectives stated in the Letter of Offer.

Rights Issue Details

Solara Active Pharma raised Rs 449.95 crore through a rights issue conducted from May 28, 2024, to June 11, 2024. The net proceeds, amounting to Rs 446.95 crore, were earmarked for specific purposes:

Utilization of Proceeds

As of September 30, 2025, the company has utilized a significant portion of the raised funds:

Unutilized Funds

The report indicates that Rs 138.37 crore remains unutilized, which primarily consists of:

• Rs 134.99 crore yet to be raised through the company's second call
• Rs 3.38 crore from the first call, pending receipt
• A small balance of Rs 0.06 crore currently in the monitoring account

General Corporate Purposes Utilization

Of the funds allocated for general corporate purposes, Rs 15.83 crore was used during the quarter for vendor payments. These payments included settling legacy payables from previous financial years (FY 2022–23, FY 2023–24, and FY 2024–25) that had been deferred due to prioritization of essential operational expenditures.

Management Statement

The company's management has confirmed that there has been no deviation in the utilization of issue proceeds from the objects stated in the Letter of Offer for the Rights Issue.

This report demonstrates Solara Active Pharma Sciences' commitment to transparent financial management and adherence to its stated objectives in utilizing the rights issue proceeds. The company's decision to settle legacy payables indicates a strategic approach to managing its financial obligations while maintaining operational priorities.

Solara Active Pharma Sciences Limited, a prominent player in the pharmaceutical industry, has announced an employee incentive program. The company's Board of Directors has approved the grant of 25,000 stock options to eligible employees under the Solara Employee Stock Option Plan 2024.

Key Details of the Stock Option Grant

• Number of Options: 25,000 stock options
• Exercise Price: Rs. 375 per equity share
• Vesting Schedule:

  Year	Percentage of Options Vested
  First Year	20%
  Second Year	30%
  Third Year	50%

• Minimum Vesting Period: One year from the grant date
• Exercise Period: 120 days from the date of vesting

This move by Solara Active Pharma Sciences is aimed at aligning employee interests with those of the company and its shareholders. The stock option plan serves as a long-term incentive, potentially enhancing employee retention and motivation.

Vesting and Exercise Details

The vesting of the options will occur over a three-year period, with a minimum vesting period of one year from the grant date. This gradual vesting schedule encourages long-term commitment from employees while also providing them with the opportunity to benefit from the company's potential growth.

Once vested, employees will have a window of 120 days to exercise their options. This exercise period allows employees to make informed decisions based on market conditions and personal financial planning.

Implications for Solara and Its Employees

For Solara Active Pharma Sciences, this stock option grant represents a strategic approach to talent management and retention. By offering equity participation, the company is fostering a sense of ownership among its workforce, which may lead to increased productivity and alignment with corporate goals.

For eligible employees, these stock options present an opportunity to participate in the company's financial success. The exercise price of Rs. 375 per share sets a clear benchmark for potential gains, should the company's stock price appreciate over time.

As Solara Active Pharma Sciences continues to navigate the competitive pharmaceutical landscape, this employee stock option plan may play a role in attracting and retaining talent, which is often important in driving innovation and growth in the pharmaceutical sector.