SOLARA ACTIVE PHARMA SCIENCES LIMITED — Capital/Financing Update 2024

Mar 28, 2024

Communication Address: Solara Active Pharma Sciences Limited 2nd Floor, Admin Block

27, Vandaloor Kelambakkam Road, Chennai – 600 127, India Tel: +91 44 43446700 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

Keelakottaiyur Village, Melakottaiyur (Post)

March 28, 2024

The BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai – 400 001 Scrip Code: 541540 Scrip Code: SOLARA

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

Dear Sirs,

Sub: Update on transfer of 100% shareholding in Wholly Owned Subsidiary Company

We refer to our letter dated March 25, 2024 wherein we had informed about the sale of 100% shareholding in the SeQuent Penems Private Limited, a wholly owned subsidiary of the Company.

We wish to inform that a Share Purchase Agreement was executed today for sale of 100% shareholding in SeQuent Penems Private Limited to M/s. Symbio Generrics India Pvt. Ltd for a cash consideration of Rs.12.50 crores. The transaction is expected to be consummated by April 30[th] , 2024 on receipt of necessary approvals and completion of customary closing conditions.

Please find attached requisite disclosure under SEBI LODR for the proposed sale.

We request you to take the same on record.

Thanking you,

Yours faithfully, For Solara Active Pharma Sciences Limited

SUDDAPALLI Digitally signed by SUDDAPALLI MURALIKRISHNA MURALIKRISHNA Date: 2024.03.28 13:53:06 +05'30' S. Murali Krishna Company Secretary

Encl.: as above

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 2nd Floor, Admin Block 27, Vandaloor Kelambakkam Road, Keelakottaiyur Village, Melakottaiyur (Post) Chennai – 600 127, India Tel: +91 44 43446700 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015 read with SEBI/ HO/ CFD/ CFDPoD-1/ P/ CIR/ 2023/ 123 dated July 13, 2023.

Proposed divestment of 100% stake in Sequent Penems Private Limited, a wholly owned subsidiary of the Company.

S.No	Particulars	Remarks
1	Amount and percentage of Turnover or Revenue or Income and net worth contributed by such unit or division or undertaking or subsidiary or associate company of the listed entity during the last financial year	No operations
2.	Date on which Agreement for Sale has been entered into	Share Purchase agreement entered on March 28, 2024 with Symbio Generrics Private Limited, Bangalore
3.	Expected Date of Completion of Sale/ Disposal	March 28, 2024
4.	Consideration received from such Sale/ Disposal	The Board of Directors have approved the proposed sale for a consideration of Rs. 12.50 crores
5.	Brief details of Buyers and Whether any of the Buyers belong to Promoter/ Promoter Group/ Group companies. If yes, details thereof	No
6.	Whether transaction would fall within Related Party Transactions? If yes, whether the same is done at “Arms’ length”;	No
7.	Whether sale, lease or disposal of the undertaking is outside Scheme of Arrangement? If yes, details of the same including compliance with regulation 37A of LODR Regulations	NA

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 2nd Floor, Admin Block

27, Vandaloor Kelambakkam Road, Chennai – 600 127, India Tel: +91 44 43446700 Fax: +91 44 47406190 E-mail: investors@solara.co.in www.solara.co.in

Keelakottaiyur Village, Melakottaiyur (Post)

	8.	Additionally, in case of a slump sale, indicative disclosures provided for amalgamation/ merger, shall be disclosed by the listed entity with respect to such slump sale. For the purpose of this sub-clause, "slump sale" shall mean the transfer of one or more undertakings, as a result of the sale for a lump sum consideration, without values being assigned to the individual assets and liabilities in such _sales. _	NA

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