Rights Issue16 Oct 2026, 04:05 pm
Solara Active Pharma Sciences: No Deviation in Rights Issue Fund Utilization
AI Summary
Solara Active Pharma Sciences Limited has confirmed to the stock exchanges that there has been no deviation or variation in the utilization of funds raised through its recent Rights Issue for the quarter ended September 30, 2026. The Statement of Deviation/Variation was reviewed and approved by the company's Audit Committee. The total amount raised was Rs. 446.62 Crores. Funds were allocated towards repayment of borrowings (Rs. 334.71 Crores) and General Corporate Purpose (GCP) (Rs. 112.24 Crores). The utilization for GCP did not exceed the 25% limit of the gross proceeds.
Key Highlights
- No deviation reported in Rights Issue fund utilization for Q2 FY27.
- Audit Committee approved the utilization statement without comments.
- Total funds raised via Rights Issue amounted to Rs. 446.62 Crores.
- Funds utilized for debt repayment and general corporate purposes.
- GCP utilization remained within the stipulated 25% limit.
Price Impact
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