SOLARA ACTIVE PHARMA SCIENCES LIMITED — Capital/Financing Update 2021

Feb 3, 2021

Communication Address: Solara Active Pharma Sciences Limited Batra Centre

No. 28. Sardar Patel Road. Post Box 2630 Guindy. Chennai - 600 032. India Tel : +91 44 43446700. 22207500 Fax : +91 44 22350278 E-mail : investors@solara.com www.solara.co.in

February 3, 2021

The BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai – 400 001

The National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex Bandra (E), Mumbai – 400 051

Scrip Code: 541540

Scrip Code: SOLARA

Dear Sirs,

Sub: Consolidation of Shareholding in Sequent Penems Private Limited (SPPL) to make SPPL a Wholly Owned Subsidiary of the Company Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Board at its meeting held today (February 3, 2021) has approved to acquire additional share capital in Sequent Penems Private Limited (SPPL), subsidiary company of Solara.

Currently Solara holds 89.23% of SPPL and it is proposed to acquire remaining 10.77% to make it as a wholly owned subsidiary.

The disclosures under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is enclosed as Annexure A to this intimation.

The said transaction is expected to be completed on or before March 31, 2021.

We request you to take the same on record.

Thanking you, Yours faithfully,

For Solara Active Pharma Sciences Limited

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S. Murali Krishna Company Secretary

Solara Active Pharma Sciences Limited - CIN : L24230MH2017PLC291636

REGD. OFF: 201, Devavrata, Sector 17, Vashi Navi Mumbai - 400703. India/ Tel: 91-22-2789 2924 / 2789 3199 / Fax: 91-22-2789 2942

Communication Address: Solara Active Pharma Sciences Limited Batra Centre No. 28. Sardar Patel Road. Post Box 2630 Guindy. Chennai - 600 032. India Tel : +91 44 43446700. 22207500 Fax : +91 44 22350278 E-mail : investors@solara.com www.solara.co.in

Disclosure of information pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Acquisition of incremental stake of 10.77% in Sequent Penems Private Limited, a subsidiary of the Company

Sr.No	Sr.No	Particulars	Particulars
1.		Name of the Target entity, details in briefsuch as size, turnover etc.		Name of the Target Company:SequentPenemsPrivateLimited(CIN: U24233KA2010PTC053548) havingits registered office at Star II, Opp. IIM,Bilekahalli,BannerghattaRoad,Bangalore - 560076, India.FY 2019-20 Financials:Other Income – 69.72 lakhsPBT – 23.87 lakhsNet Profit - 23.87 lakhs
					Net Profit - 2	3.87 lakhs
2.	2.		whether the acquisition would fall within	Y	ES,
			related party transaction(s) and whether thepromoter/ promoter group/ group
		companies have any interest in the entitybeing acquired?If yes, nature of interest and details thereofand whether the same is done at “armslength”;
3.		Industry to which Target entity beingacquired belongs		Pharmaceuticals
4.		Objects and effects of acquisition		Theobjectofacquisitionistoconsolidate the Shareholding in SPPL.

Solara Active Pharma Sciences Limited - CIN : L24230MH2017PLC291636

REGD. OFF: 201, Devavrata, Sector 17, Vashi Navi Mumbai - 400703. India/ Tel: 91-22-2789 2924 / 2789 3199 / Fax: 91-22-2789 2942

			Communication Address: Solara Active Pharma Sciences LimitedBatra CentreNo. 28. Sardar Patel Road. Post Box 2630Guindy. Chennai - 600 032. IndiaTel : +91 44 43446700. 22207500Fax : +91 44 22350278E-mail : investors@solara.comwww.solara.co.in	Communication Address: Solara Active Pharma Sciences LimitedBatra CentreNo. 28. Sardar Patel Road. Post Box 2630Guindy. Chennai - 600 032. IndiaTel : +91 44 43446700. 22207500Fax : +91 44 22350278E-mail : investors@solara.comwww.solara.co.in
			The Company currently holds 89.23%stake in SPPL and consequent to thisacquisition, SPPL will become a WhollyOwned Subsidiaryof the Company.
	5.	Brief details of any governmental orregulatory approvals required for theacquisition	No
	6.	Indicative time period for completion	March 31, 2021.
	7.	Nature of consideration	Not applicable
	8.	Percentage of shareholding/ control acquiredand/ or number of shares acquired	Currently Solara holds 89.23% of SPPLand propose to acquire remaining10.77%.
	9.	Cost of acquisition or the price at which theshares are acquired	The shares are being transferred by theminority sharehodlers to the Companyat NIL value.
	10.
	a.	Products/line of business acquired	Line of Business:Pharmaceuticals
	b.	Date of incorporation	May10,2010
	c.	History of last 3 years Consolidated turnover(Rs. in lakhs)	FY 2019-20	69.72
			FY 2018-19	65.65
			FY 2017-18	56.00
	d.	Country in which the acquired entity haspresence	India

Solara Active Pharma Sciences Limited - CIN : L24230MH2017PLC291636

REGD. OFF: 201, Devavrata, Sector 17, Vashi Navi Mumbai - 400703. India/ Tel: 91-22-2789 2924 / 2789 3199 / Fax: 91-22-2789 2942