With reference to earlier letter dated January 24, 2025 whereby the Company had informed the stock exchanges about granting of in-principle approval for proposed demerger of the CRAMS and Polymers Business into an Independent Listed Entity, by the Board of Directors of the Company; and in continuation thereof and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’), as amended, Solara Active Pharma Sciences has informed that the Board Committee of the Company at its meeting held today, i.e., February 7, 2025, has approved incorporation of a Wholly-owned Subsidiary of the Company. The details required under Regulation 30 of the SEBI Listing Regulations, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 and SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, with respect to the above incorporation of a Wholly-owned Subsidiary is given in Annexure enclosed. The meeting of the Board Committee of the Company commenced at 10:00 am and concluded at 10:20 am.
The above information is a part of company’s filings submitted to BSE.
