Nectar Lifesciences

Nectar Lifesciences will buyback up to 30 million shares, which represents up to 13.38 per cent of the company's total paid-up equity share capital

Nectar Lifesciences share price hit 52-weel low at ₹18.6 per share; here's why the stock is under pressure

Nectar Lifesciences Ltd on Tuesday said it will sell its active pharmaceutical ingredients and formulation along with menthol business assets to Ceph Lifesciences Pvt Ltd, for Rs 1,290 crore. The company has signed a definitive Business Transfer Agreement (BTA) for the sale of its core business division, comprising the manufacture, distribution, and marketing of Active Pharmaceutical Ingredients (APIs) and formulations to Ceph Lifesciences for Rs 1,270 crore on a slump sale basis, Nectar said in a regulatory filing. Additionally, the company has entered into an Asset Purchase Agreement (APA) for the sale of its menthol business assets to Ceph Lifesciences for Rs 20 crore, marking a comprehensive restructuring move aligned with its future strategy, it added. "By divesting mature segments of our business, we are laying the foundation for a focused and agile organisation geared towards innovation and long-term value creation," Nectar Lifesciences Promoter and Chairman Sanjiv Goyal ...

Shares of Nectar Lifesciences closed 1.58 per cent down at Rs 34.35 on BSE