Pep pill?

IPO WATCH: Nectar Lifesciences

Opens

22-Jun-05

Closes

28-Jun-05

Issue size

38.7 lakh shares

Price band

Rs 200-240

Merchant bankers

ICICI Securities

Listing

NSE, BSE

 Nectar intends to use the proceeds of the issue to set up an R&D centre and a manufacturing facility at Baddi, Himachal Pradesh, and a sterile cephalosporin plant at Derabassi as per USFDA standards.  The facility is expected to help the company enter into the regulated markets of US and UK. However, it is yet to get approvals for the proposed projects and that may take some more time.  Nectar was incorporated as Surya Medicare in 1995, as a financial collaboration between the promoters of the company and Punjab State Industrial Development Corporation (PSIDC).  The company bought back the entire holding of PSIDC in April 2003 and changed its name to Nectar Lifesciences in March, 2004.  Nectar