Solara Active Pharma Sciences Limited — Others, 24-01-2025: Statement of deviation(s) or variation(s) under Reg. 32

Solara Active Pharma Sciences Limited has announced a board meeting to review the utilization of proceeds from its recent Rights Issue, confirming no deviation in fund usage. The company raised ₹157.48 crores by allotting nearly 1.2 crore partly paid equity shares at ₹375 each. These funds have primarily been allocated for debt repayment and general corporate purposes, with ₹118.61 crores already utilized for repayments and ₹35.87 crores allocated for general needs. This clear confirmation of fund deployment may bolster investor confidence in the company’s financial discipline, leading to a positive outlook among shareholders.