Solara Active Pharma dispatches final rights share call notice; Rs 112.5 per share due by May 7

API maker begins circulation of second and final call money notice for partly paid-up rights shares, completing the last leg of its 2024 fundraising cycle

Solara Active Pharma Sciences has dispatched the second and final call money notice to eligible holders of its partly paid-up rights shares, marking the final stage of the company’s Rs 449.95 crore rights issue capital collection process. 

According to the NSE filing, the company has sought Rs 112.50 per partly paid-up equity share, comprising Rs 3 towards face value and Rs 109.50 towards securities premium. The call notice was sent electronically on April 6 to shareholders whose email IDs were registered as of the April 2 record date, while physical notices and ASBA forms were dispatched on April 7 to remaining eligible investors. 

The payment window will remain open from April 23 to May 7, 2026, giving shareholders 15 days to remit the final call money through online ASBA, physical ASBA, or broker-linked 3-in-1 banking platforms. 

This represents the second and final call on the rights shares issued in June 2024 at Rs 375 per share, following the application money and first call already collected in earlier phases. Upon successful receipt of the final tranche, the partly paid-up shares are expected to transition into fully paid equity shares, completing the capital raise roadmap. 

The development is significant for investors holding SOLARAPP1 partly paid-up shares, which were temporarily suspended from trading from April 2 in line with exchange norms governing final call processes.