Nectar Lifesciences Limited's board of directors has approved two significant corporate decisions in their meeting held on March 02, 2026. The pharmaceutical company announced the acquisition of Avensis Exports Private Limited (AEPL) for 2.5 million rupees and a change in its Registrar and Share Transfer Agent (RTA) services, as disclosed under Regulation 30 of SEBI LODR Regulations.

Strategic Acquisition Details

The board approved acquiring 100% paid-up equity share capital of AEPL through a cash consideration deal valued at 2.5 million rupees. The acquisition represents Nectar Lifesciences' strategic entry into the real estate sector:

Target Company Profile

AEPL, incorporated on October 16, 2007, operates in the real estate business with a paid-up equity share capital of ₹8.00 lakh. The company's financial performance shows zero turnover for the last three years (2022-23, 2023-24, and 2024-25). Despite the nil turnover, AEPL's land exposures and collaborations with other real estate companies are expected to help Nectar Lifesciences establish its presence in the real estate arena.

Business Diversification Strategy

The acquisition enables Nectar Lifesciences to diversify beyond its core pharmaceutical operations into real estate. The proposed investment does not fall within the ambit of related party transactions, and none of Nectar Lifesciences' directors are shareholders or directors of AEPL. This strategic move will allow the company to strengthen its position in the real estate business and explore new revenue streams.

RTA Service Transition

Simultaneously, the board approved changing the company's Registrar and Share Transfer Agent from KFin Technologies Limited to Alankit Assignments Limited. The change aims to reduce service costs and enhance operational efficiency:

Implementation and Compliance

KFin Technologies will continue serving as the company's RTA until completion of data transition, shifting of electronic connectivity, and other related procedures, along with receipt of necessary confirmations from NSDL and CDSL. The company will handle all formalities including documentation, agreement execution, electronic connectivity shifting, and data transition in due course. The board meeting commenced at 04:00 P.M. IST and concluded at 04:30 P.M. IST on March 02, 2026, with all decisions made in compliance with SEBI regulations.

Nectar Lifesciences Limited has successfully completed its postal ballot process, with shareholders approving all three resolutions proposed by the company's board of directors. The remote e-voting period concluded on February 28, 2026, marking a significant milestone in the company's corporate governance initiatives.

Postal Ballot Process Overview

The company initiated the postal ballot process on January 28, 2026, seeking shareholder approval for three critical resolutions. The remote e-voting commenced on January 30, 2026, at 9:00 A.M. IST and concluded on February 28, 2026, at 5:00 P.M. IST. Mr. Prince Chadha, a practicing Company Secretary, served as the appointed Scrutinizer for conducting the postal ballot process.

Resolutions and Voting Results

The postal ballot covered three key resolutions, all of which received overwhelming shareholder support:

Resolution 1: Director Appointment

The ordinary resolution for appointing Mr. Sushil Kapoor as Director liable to retire by rotation achieved remarkable success:

Resolution 2: Wholetime Director Appointment

The special resolution for Mr. Sushil Kapoor's appointment as Wholetime Director (Finance) for three years also secured strong approval:

Resolution 3: Memorandum Amendment

The special resolution to adopt a new memorandum of association with amended object clauses received substantial support:

Shareholder Participation

The postal ballot demonstrated strong shareholder engagement, with the company's total shareholding of 194260970 shares represented across different categories. The promoter and promoter group maintained complete participation with 100% voting on their holdings of 100706448 shares. Public institutional investors held 8160031 shares, while public non-institutional shareholders controlled 85394491 shares.

Corporate Governance Compliance

The postal ballot process adhered to all regulatory requirements under the Companies Act, 2013, and SEBI LODR Regulations. The company published advertisements in Business Standard (English) and Desh Sewak (Punjabi) on January 29, 2026, informing shareholders about the postal ballot notice and remote e-voting procedures. The process was conducted entirely through electronic means, with no physical ballot forms dispatched to members.

Expanded Business Scope

The approved memorandum amendment significantly expands Nectar Lifesciences' business scope beyond its core pharmaceutical operations. The new object clauses encompass construction and real estate development, electrical engineering, mechanical engineering, chemical manufacturing, entertainment industry operations, and various other business verticals. This diversification strategy positions the company for broader market opportunities while maintaining its pharmaceutical focus.

The successful completion of the postal ballot process reflects strong shareholder confidence in the company's strategic direction and leadership appointments. All resolutions were deemed passed with the requisite majority as confirmed by the Scrutinizer's report.

Source: None/Company/INE023H01027/e0ad159d-a06f-43a9-bdbd-afe7b9732dc6.pdf