SOLARA ACTIVE PHARMA SCIENCES LIMITED — Capital/Financing Update 2025

Nov 5, 2025

Corporate Office: Solara Active Pharma Sciences Limited TICEL Bio Park, 6th Floor, Module No. 601, 602, 603, Phase II – CSIR Road, Taramani, Chennai, Tamil Nadu – 600113. Tel: +91 44 4344 6700 Fax: +91 44 47406190 E-mail: investors@solara.co.in Website: www.solara.co.in

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November 05, 2025

The BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai–400 001	The National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra-Kurla Complex, Bandra (E), Mumbai–400 051

Scrip Code: 541540, 890202 Symbol: SOLARA, SOLARAPP1

Dear Sir / Madam,

Dear Sir / Madam,

Sub: Disclosure in terms of Regulation 32(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) – “Utilization of Proceeds & Statement of Deviation / Variation” of Solara Active Pharma Sciences Limited

As per the provisions of Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that there is no deviation or variation in use of proceeds raised through Rights Issue.

The above referred Statement of Utilization of Proceeds & Statement of Deviation / Variation, for the quarter ended September 30, 2025, was placed before the Audit Committee of the Company, at its meeting held today i.e., November 05, 2025, wherein the Audit Committee has noted the same and approved for submission with the Stock Exchanges, without any comments thereon.

This is for your information and records.

Thanking you, Yours faithfully, For Solara Active Pharma Sciences Limited

POOJA JAYA Digitally signed by POOJA JAYA KUMAR KUMAR Date: 2025.11.05 15:05:07 +05'30' Pooja Jaya Kumar Company Secretary & Compliance Officer Membership No: A57415

Solara Active Pharma Sciences Limited - CIN: L24230MH2017PLC291636

Registered Office: 9[th ] Floor, ‘Cyber One’, Unit No. 902, Plot No. 4 & 6, Sector 30A, Vashi, Navi Mumbai - 400 703 / Tel: +91-22-2517 2163

Corporate Office: Solara Active Pharma Sciences Limited TICEL Bio Park, 6th Floor, Module No. 601, 602, 603, Phase II – CSIR Road, Taramani, Chennai, Tamil Nadu – 600113. Tel: +91 44 4344 6700 Fax: +91 44 47406190 E-mail: investors@solara.co.in Website: www.solara.co.in

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Annexure- A

Reg. 32 - Statement of Deviation / Variation in utilization of funds raised

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Name of listed entity Solara Active Pharma Sciences Limited
Mode of Fund Raising Rights Issue
Date of Raising Funds August 16, 2025
(date of noting receipt of 1 [st] call Money pursuant
to 1 [st] reminder notice)
Amount Raised (In crores) Rs. 308.85 Crores – Refer Note below
(Rs. 4.88 /- raised during the quarter pursuant to
1 [st] call Reminder Notice)
Report filed for Quarter ended September 30, 2025
Monitoring Agency Applicable
Monitoring Agency Name, if applicable CRISIL Ratings Limited
Is there a Deviation / Variation in use of funds raised No
If yes, whether the same is pursuant to change in Not applicable
terms of a contract or objects, which was approved
by the shareholders
If Yes, Date of shareholder Approval Not applicable
Explanation for Deviation / Variation Not applicable
Comments of the Audit Committee after review No comments from the Audit Committee
Comments of the auditors, if any Not applicable
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Amount received during the quarter on making the First reminder Notice for payment of 1[st] Call Money. Objects for which funds have been raised and where there has been a deviation, in the following table*

Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table
Original Object	Modified Object, if any Original Allocation		Modified allocation, if any	Funds Utilised	Amount of Deviation/Varia tion for the quarter according to applicable object	Remarks if any
Repayment or Pre-payment in full or part of certain outstanding Borrowings availed by the Company	Nil	Rs.334.71 Crores	Nil	Rs. 233.61 Crores	Nil	The Company has considered the total issue size as per the Letter of Offer dated May 09, 2024.

Solara Active Pharma Sciences Limited - CIN: L24230MH2017PLC291636

Registered Office: 9[th ] Floor, ‘Cyber One’, Unit No. 902, Plot No. 4 & 6, Sector 30A, Vashi, Navi Mumbai - 400 703 / Tel: +91-22-2517 2163

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Corporate Office: Solara Active Pharma Sciences Limited TICEL Bio Park, 6th Floor, Module No. 601, 602, 603, Phase II – CSIR Road, Taramani, Chennai, Tamil Nadu – 600113. Tel: +91 44 4344 6700 Fax: +91 44 47406190 E-mail: investors@solara.co.in Website: www.solara.co.in

	General Corporate Purpose (CGP)	Nil	111.57 Crores	Rs. 112.24 Crores	Rs. 74.97 Crores (Rs. 15.83 Crores utilized during the Quarter)	Nil	The amount utilised for general corporate purposes does not exceed 25% of the Gross Proceeds (amounting to Rs 112.49 crore) from the Fresh Issue. Surplus issue related expenses of Rs. 0.67 crore were added to GCP.

Note:

The Rights Equity Shares were issued as partly paid-up and an amount of Rs. 131.25 per Rights Equity Share has been received on application (of which Rs. 3.5 towards face value of Rights Equity Share and Rs. 127.75 towards premium amount of Rights Equity Share).

On March 26, 2025, the Rights Issue Committee approved the Rights Issue First Call of Rs.131.25 per Rights Share (Rs.3.50 face value and Rs.127.75 securities premium) for 1,19,98,755 partly paid Rights Shares, as per the Letter of Offer dated May 09, 2024. The First Call payment window was open from April 16, 2025 to April 30, 2025. The Rights Issue Committee on May 06, 2025, took note of receipt of 1[st] call money amounting Rs.149.49 crores and approved conversion of 1,13,89,767 partly paid shares of Rs. 3.5 per shares to partly paid of Rs. 7 per shares.

Further, on July 01, 2025, Company issued First reminder notice for payment of 1[st] call Money. The First Call payment window (pursuant to First reminder notice) was open from Monday, July 07, 2025 to Monday July, 21, 2025. The Rights Issue Committee on August 16, 2025, took note of receipt of 1[st] call money amounting Rs. 4.88 crores and approved conversion of 3,71,779 partly paid shares of Rs. 3.5 per shares to partly paid of Rs. 7 per shares.

Out of the funds raised on 1[st] Call amounting to Rs. 154.37 crores:

• ⦁ Rs. 154.10 Crores has been utilised (15.83 crores have been utilized during the quarter).

• ⦁ Rs. 0.26 crores is held at Rights issue allotment account (Escrow account), will be transferred to the Monitoring account and will be utilized in the upcoming quarters.

• ⦁ Rs. 63,263.09/- held at Monitoring account and will be utilized in the upcoming quarters.

As on September 30, 2025, total funds received from the Rights Issue was Rs. 308.85 crores including collection towards First Call of Rs. 154.37 Crore. Out of the total funds received as on September 30, 2025, Rs. 63,263.09/was held in the monitoring agency account and was yet to be utilized.

Deviation or variation could mean:

(a) Deviation in the objects or purposes for which the funds have been raised or

(b) Deviation in the amount of funds actually utilized as against what was originally disclosed or (c) Change in terms of a contract referred to in the fund-raising document i.e. prospectus, letter of offer, etc

For Solara Active Pharma Sciences Limited

POOJA JAYA Digitally signed by POOJA JAYA KUMAR KUMAR Date: 2025.11.05 15:05:57 +05'30' Pooja Jaya Kumar Company Secretary & Compliance Officer Membership No: A57415

Solara Active Pharma Sciences Limited - CIN: L24230MH2017PLC291636 Registered Office: 9[th ] Floor, ‘Cyber One’, Unit No. 902, Plot No. 4 & 6, Sector 30A, Vashi, Navi Mumbai - 400 703 / Tel: +91-22-2517 2163