Nectar Lifesciences Acquires Avensis Exports for INR 24.96M
Filing Summary
Nectar Lifesciences Ltd has announced the acquisition of 100% equity in Avensis Exports Private Limited for INR 24.96 million. The acquisition, approved by the board on March 2, 2026, involves purchasing 80,000 shares at INR 31.20 per share. This move allows Nectar Lifesciences to enter the real estate sector. Additionally, the company plans to change its Registrar and Share Transfer Agent from KFin Technologies to Alankit Assignments Limited. The transition is expected to be completed within a month, pending necessary confirmations from NSDL and CDSL.
Nectar Lifesciences Ltd has confirmed the acquisition of 100% of the paid-up equity share capital of Avensis Exports Private Limited (AEPL). The decision was made during the board meeting held on March 2, 2026. This acquisition involves the purchase of 80,000 equity shares, making AEPL a wholly-owned subsidiary of Nectar Lifesciences.
The acquisition cost is set at INR 24.96 million, with each share priced at INR 31.20. The transaction will be completed through cash consideration. This strategic move does not fall under related party transactions, and none of the directors of Nectar Lifesciences hold shares or directorships in AEPL.
The acquisition will enable Nectar Lifesciences to diversify into the real estate sector. AEPL, incorporated on October 16, 2007, operates within the real estate industry. Despite having no turnover in the past three years, AEPL’s assets in land and collaborations with other real estate companies are expected to facilitate Nectar Lifesciences’ entry into this new business area.
The board also approved a change in the company’s Registrar and Share Transfer Agent from KFin Technologies Limited to Alankit Assignments Limited. This change aims to reduce service costs and enhance operational efficiency. KFin Technologies will continue its role until the transition of data and electronic connectivity is completed, along with receiving necessary confirmations from NSDL and CDSL. The effective date for this change will be communicated once definitive agreements are executed.
The acquisition of AEPL is expected to be finalized within one month. The board meeting discussing these decisions commenced at 4:00 PM IST and concluded at 4:30 PM IST on March 2, 2026.
Nectar Lifesciences Ltd is focused on expanding its business operations beyond its traditional pharmaceutical domain. By acquiring AEPL, the company is strategically positioning itself to explore opportunities in the real estate sector, thereby diversifying its business portfolio.