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Solara Active Pharma Sciences has announced a Monitoring Agency Report by Crisil Ratings on the utilization of net proceeds from its Rs 449.95 crore Rights Issue. Rs 154.48 crore has been used for repayment of borrowings and corporate purposes, while Rs 292.47 crore is to be raised through subsequent calls on partly paid shares. Fund utilization aligns fully with the offer document, with no deviations or delays. The unutilized amount is maintained as scheduled, aiding the company’s debt reduction and operational requirements.
All announcements from Solara Active Pharma Sciences Limited