Nectar lifesciences Limited has announced that its board of directors approved a significant inter-corporate loan facility during their meeting on March 02, 2026. The pharmaceutical company's board sanctioned an amount of up to INR 120 crores as a loan to its proposed wholly owned subsidiary, Avensis Exports Private Limited, following the completion of the acquisition process.

Board Meeting Details

The board meeting was conducted on Monday, March 02, 2026, commencing at 04:00 P.M. IST and concluding at 04:30 P.M. IST. The loan approval was part of broader decisions taken during this meeting, as referenced in the company's earlier disclosure dated March 02, 2026.

Regulatory Compliance and Disclosure

The company has committed to providing detailed disclosures regarding the loan agreement as per SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. These comprehensive disclosures will be submitted to the stock exchanges after the finalization of the definitive loan agreement with the proposed wholly owned subsidiary.

Nectar Lifesciences acknowledged an administrative oversight in the initial disclosure process, stating that the delay was inadvertent and unintentional. The company expressed regret for the omission and assured the exchanges of its commitment to furnishing all material information within prescribed time limits in the future.

Corporate Structure Development

The inter-corporate loan represents a strategic financial arrangement to support the operations of Avensis Exports Private Limited post-acquisition. The loan facility will be activated after the completion of the acquisition process, indicating the company's planned expansion of its corporate structure through the wholly owned subsidiary model.

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders regarding this significant financial commitment. Company Secretary and Compliance Officer Sanjaymohan Singh Rawat signed the official communication to the stock exchanges on March 03, 2026.

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.