Solara Active Pharma Sciences Limited has filed the letter of offer dated May 9, 2024 for the issue of 1,19,98,755 partly paid-up equity shares of face value ₹10 each at an issue price of ₹375 per equity share to the eligible equity shareholders of the Company in the ratio of 1:3, for raising ₹449.95 crores (the “Rights Issue”), on a fast-track basis.
The funds proposed to be raised through the Rights Issue are in multiple calls, and the application money per share is ₹131.25 per equity share, aggregating to ₹157.48 crores. The issue opened on May 28, 2024, and closed on June 11, 2024 (the “Transaction”). The equity shares of the Company issued under the Rights Issue will be listed on BSE and NSE for trading purposes.
DSK Legal advised and assisted Solara in this transaction.
Avinash Poojari (Associate Partner) and Akanksha Dubey (Principal Associate).
Ajay Shaw (Partner) and Gaurav Mistry (Partner) acted as engagement partners.
Anand Desai (Managing Partner) acted as the relationship partner.
Solara is an R&D-focused API company based in India, engaged in the manufacturing and development of active pharmaceutical ingredients and offering services, including contract research and manufacturing services for the development of semi-synthetic new chemical entity APIs.
If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.