News Corporate Actions Solara Active Pharma Sciences Receives Rs. 93.71 Lakh Call Money on Rights SharesSolara Active Pharma Sciences Receives Rs. 93.71 Lakh Call Money on Rights Shares
Solara Active Pharma Sciences successfully collected Rs. 93.71 lakh as first call money on 71,402 partly paid-up rights equity shares out of 2.37 lakh outstanding shares. The Rights Issue Committee approved conversion of these shares from Rs. 3.50 to Rs. 7.00 paid-up value, increasing the company's total paid-up capital to Rs. 44.51 crore and demonstrating shareholder confidence in the pharmaceutical company.
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Solara Active Pharma Sciences Limited has successfully received call money from shareholders following its second reminder notice for payment on partly paid-up rights equity shares. The pharmaceutical company announced the receipt of Rs. 93,71,512.50 as first call money on March 04, 2026, through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Call Money Collection Details
The company received the call money in response to its second reminder notice dated February 04, 2026, which sought payment of Rs. 131.25 per rights equity share as the first call. The collection covered 71,402 partly paid-up rights equity shares out of the total outstanding 2,37,209 shares that were originally allotted on June 19, 2024, pursuant to a rights issue based on the Letter of Offer dated May 09, 2024.
| Parameter: | Details |
|---|---|
| Call Money Received: | Rs. 93,71,512.50 |
| Number of Shares Converted: | 71,402 |
| First Call Amount per Share: | Rs. 131.25 |
| Total Outstanding Shares: | 2,37,209 |
| Original Allotment Date: | June 19, 2024 |
| Letter of Offer Date: | May 09, 2024 |
Share Conversion Process
The Rights Issue Committee approved the conversion of the 71,402 partly paid-up equity shares through a circular resolution passed on March 04, 2026. The shares were converted from their original status of Rs. 3.50 paid-up with face value Rs. 10 each (ISIN IN9624Z01014) to partly paid-up equity shares with Rs. 7.00 paid-up and face value Rs. 10 each (ISIN IN9624Z01022).
Updated Capital Structure
Following the conversion, Solara Active Pharma Sciences' paid-up capital structure has been revised. The company's total paid-up capital now stands at Rs. 44,51,39,030.50, reflecting the increased paid-up amount from the converted shares.
| Share Category: | Number of Shares | Face Value | Paid-up Amount | ISIN |
|---|---|---|---|---|
| Fully Paid-up Equity Shares: | 3,61,72,807 | Rs. 10 | Rs. 10 | INE624Z01016 |
| Partly Paid-up Rights Shares (Higher): | 1,18,32,948 | Rs. 10 | Rs. 7 | IN9624Z01022 |
| Partly Paid-up Rights Shares (Lower): | 1,65,807 | Rs. 10 | Rs. 3.50 | IN9624Z01014 |
Regulatory Compliance and Next Steps
The company has communicated the development to both BSE Limited and National Stock Exchange of India Limited, maintaining transparency with stock exchanges. Solara Active Pharma Sciences will undertake necessary corporate actions to obtain listing and trading approvals for the converted rights equity shares, enabling them to be traded alongside the company's existing equity shares.
The successful collection of call money demonstrates shareholder confidence in the company's rights issue process and provides additional capital for the pharmaceutical company's operations. The formal regulatory filing ensures compliance with SEBI disclosure requirements and maintains transparency with stakeholders.
Historical Stock Returns for Solara Active Pharma Sciences
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.07% | -2.25% | -10.64% | -26.79% | +2.52% | -62.26% |
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