Solara Active Pharma Sciences Approves Final Call of ₹112.50 for Rights Shares

Solara Active Pharma Sciences Limited has successfully concluded its Rights Issue Committee meeting on March 24, 2026, and approved the second and final call of ₹112.50 per share on partly paid-up equity shares issued under its rights offering program. The pharmaceutical company has also set April 2, 2026, as the record date for determining eligible shareholders who must pay the call money.

Committee Meeting Outcomes

The Rights Issue Committee meeting was held on Tuesday, March 24, 2026, commencing at 9:30 AM and concluding at 9:55 AM. The committee addressed all matters related to the second and final call on partly paid-up equity shares that were issued based on the Letter of Offer dated May 09, 2024. The company has communicated the outcomes to both BSE Limited and National Stock Exchange of India Limited under Regulation 30 and 42 of SEBI Listing Regulations.

Final Call Details: Information Call Amount: ₹112.50 per share Face Value Component: ₹3.00 per share Securities Premium: ₹109.50 per share Call Type: Second and Final Call Record Date: April 2, 2026 Reference Document: Letter of Offer dated May 09, 2024 Committee Meeting Date: March 24, 2026

Record Date and Payment Obligations

With the record date fixed for Thursday, April 2, 2026, shareholders who hold partly paid-up equity shares issued under the rights offering will be required to pay the final call amount of ₹112.50 per share. This record date determination ensures clarity on which shareholders are obligated to make the required payment to complete their share allotment under the rights issue. Call notices will be dispatched to eligible shareholders for payment of the call amount.

Rights Issue Process Completion

The approval of the final call marks a significant milestone in completing the company's rights offering program initiated through the Letter of Offer dated May 09, 2024. Shareholders who subscribed to the rights issue and received partly paid-up shares must now fulfill their remaining payment obligation to convert these into fully paid-up equity shares. The call amount breakdown includes ₹3.00 towards face value and ₹109.50 towards securities premium per rights share.

Regulatory Compliance and Documentation

The company has maintained full compliance with SEBI Listing Regulations throughout the rights issue process. Company Secretary and Compliance Officer Pooja Jaya Kumar has signed the official communication to stock exchanges, ensuring proper regulatory disclosure. The announcement has been made under Regulation 30 and 42 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, maintaining transparency in the rights issue proceedings and shareholder obligations.

Solara Active Pharma Sciences Limited has received a significant income tax demand notice of ₹161.92 crores for assessment year 2019-20, the company disclosed in a regulatory filing. The notice was issued by the Deputy Commissioner of Income Tax, Central Circle-3, Thane, following an assessment order passed under Section 143(3) read with Section 147 of the Income Tax Act, 1961.

Tax Demand Details

The substantial tax demand stems from the disallowance of certain expenses claimed by the company in its income tax return for assessment year 2019-20. The company received the communication on March 17, 2026, and made the regulatory disclosure on March 18, 2026.

Parameter: Details Tax Demand Amount: ₹161.92 crores Assessment Year: 2019-20 Issuing Authority: Deputy Commissioner of Income Tax, Central Circle-3, Thane Date of Receipt: March 17, 2026 Legal Basis: Section 143(3) read with Section 147 of Income Tax Act, 1961 Notice Type: Demand Notice under Section 156

Company's Response and Action Plan

Solara Active Pharma Sciences has expressed confidence in its position, stating that it believes it has merits in the case and does not expect any material impact on the company financially or otherwise. The pharmaceutical company is preparing to file an appeal against the assessment order before the concerned appellate authority within the prescribed timelines.

Regulatory Compliance Framework

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive details as required under the regulations, following the SEBI Master circular dated January 30, 2026.

Compliance Aspect: Status Penalty Imposed: Nil Non-compliance Identified: Related to expense disallowances Expected Financial Impact: No material impact anticipated Appeal Timeline: Within prescribed limits Company Secretary: Pooja Jaya Kumar (ICSI: A57415)

The company has confirmed that no penalties, restrictions, or sanctions have been imposed pursuant to the communication. The matter is limited to the tax demand arising from the disallowed expenses for assessment year 2019-20. The official communication was signed by Company Secretary Pooja Jaya Kumar and will be available on the company's website at solara.co.in.

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