Update: Solara Active Pharma Sciences Limited will make the first call for the balance payment of partly paid shares. April 04, 2025, is the record date to determine the shareholders eligible for the first call notice. You can check the announcement from the company here.
As a result, the partly-paid shares of Solara Active Pharma Sciences Limited (SOLARAPP) were suspended from trading on exchanges on April 04, 2025, and you are no longer able to see these holdings on Kite.
You can check the announcement from the company here.
| Event Schedule | |
|---|---|
| Payment | â‚ą 131.25 per share |
| Call Payment Period | 16th April 2025 - 30th April 2025 |
| Allotment & Listing | Within 2-3 weeks from the last date of payment |
How do I make the call payment?
You can make the call payment via the following modes:
- Netbanking ASBA.
- Physical ASBA: Submitting a physical application form to SCSB’s designated branch.
You can find the list of SCSB (Self Certified Syndicate Banks) here.
What happens if I don’t make the call payment?
If you fail to make the payment, the company may forfeit the partly paid shares you hold and may also levy interest on the amount owed.
The company has published Frequently Asked Questions (FAQs) regarding the first call in the investor section of its website. You can access them here.
Further, the pending amount of ₹112.5 per share will be payable upon the company’s announcement and will be collected in the second or final call, as determined by the company. You can track updates in the company announcement section on the exchange here.
Solara Active Pharma Limited. (SOLARA) has announced a rights issue of 1,19,98,755 equity shares aggregating up to Rs. 449.95 crores. The rights issue opens for subscription on May 28, 2024 and closes on June 11, 2024.
Anyone who holds shares of Solara Active Pharma Limited. as of May 15, 2024 (record date) will be eligible for receiving Rights Entitlements (REs). These REs will be temporarily traded on the stock exchanges and will then be extinguished. You can either use the REs to apply for the rights shares of the company or you can sell them in the market.
You can check the announcement from the company here.
You will be eligible to receive Rights Entitlements (REs) if you’ve bought the shares on or before May 14, 2024. The ex-date is May 15, 2024.
Rights issue details
| Issue Period | May 28, 2024 - June 11, 2024 |
|---|---|
| RE Trading Period | May 28, 2024 - June 05, 2024 |
| RE Symbol | SOLARA-RE |
| Issue Price | Rs. 375 per share (Rs. 131.25 on application) |
| Ratio | 1:3 |
| EX-date | May 15, 2024 |
| Record Date | May 15, 2024 |
| Tentative Date of Allotment for rights shares | June 19, 2024 |
| Tentative Date of Credit of rights shares | June 19, 2024 |
| Tentative Date of Listing for rights shares | June 20, 2024 |
This is a partly-paid issue, meaning you only have to make part payments at the time of application.
| Amount payable per equity share | Face Value | Premium | Total |
|---|---|---|---|
| On Application | 3.50 | 127.75 | 131.25 |
| First Call | 3.50 | 127.75 | 131.25 |
The remaining amount will be called within 24 months from the date of allotment or within an extended period. The balance subscription money of â‚ą243.75 may be paid in one or multiple calls, as decided by the Board or the Rights Issue Committee. The company has yet to publish these specific details.
If you continue holding partly-paid shares of Solara Active Pharma Limited when the company makes a call for the balance payment, you will be liable to pay the balance sum. If you have sold the partly-paid shares, the buyer will be liable to pay the sum.
How to apply for Solara Active Pharma Limited Rights Issue?
Once you either receive the REs from the company or purchase them from the market, you can apply for the rights shares using the below methods;
- Online via Netbanking ASBA
- Offline by submitting the Application Form to the nearest branch of SCSB (Self-Certified Syndicate Bank)
You can check the application process here.
You will need to enter your Demat account’s Beneficiary Owner ID which is a 16-digit number while applying for the rights issue.
The option to apply for rights shares through the RTAs portal is not available for this rights issue.
What will happen to my purchased holding of RE shares if I do not apply for the rights issue?
Your REs will lapse and you will lose the premium paid to acquire them. The RE will be in the form of temporary demat securities which will lapse if not renounced/exercised once the trading window is closed.
I don’t have the shares but bought REs, am I still eligible to apply for the rights issue?
In case you have bought REs but don’t have shares, you’re still eligible for the rights issue. You may apply for the rights shares either through the RTA’s portal or via net banking ASBA if your bank allows it. If you don’t take any action, and let the REs remain in your Zerodha account, they will lapse after the issue.
You can read more FAQs on Rights Issue and Rights Entitlements here.