Solara Active Pharma Sciences on Wednesday said its board has approved to raise up to Rs 450 crore through a rights issue.
The board has approved the offer and issuance of equity shares of face value of Rs 10 each of the company for an aggregate amount, including premium, not exceeding Rs 450 crore by way of a rights issue to the eligible equity shareholders of the company, the drug firm said in a regulatory filing.
The Chennai-based firm rolls out products from its various facilities spread across various states, including Tamil Nadu, Maharashtra and Karnataka.
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