Solara Active Pharma Science gains approval from the board for Rs 450 crore fundraising.

The drug firm said in a regulatory filing that the board had approved the offer and issuance of shares of face value Rs 10 each of the company, totalling up to Rs 450 crore by way of a rights issue to the eligible equity shareholders of the company.

The Shares of Solara Active Pharma Science Traded over a per cent higher on July 6, the morning after the company’s board approved raising funds up to Rs 450 crore.

At 9:15 am, the stock traded 1.4% higher at Rs 404.4 apiece on the BSE.