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Solara Active Pharma Sciences' Monitoring Agency has confirmed no deviation in the utilization of funds from its Rights Issue. The company, which raised Rs 446.95 Cr (net), reported that funds are being utilized as planned. A significant portion, Rs 233.61 Cr, has been used for repayment of outstanding borrowings, while Rs 59.14 Cr was allocated for general corporate purposes, including various vendor payments. This update provides clarity on the deployment of shareholder capital, ensuring transparency in line with its stated objectives.
All announcements from Solara Active Pharma Sciences Limited