Nectar Lifesciences Limited — Others, 07-08-2025: Shareholders meeting

Nectar Lifesciences shareholders have approved key proposals at an Extraordinary General Meeting. They voted to appoint Dr. Surulichamy Senthilkumar as a Director and Wholetime Director (R&D) for three years. Crucially, shareholders also approved the transfer of the company's active pharmaceutical ingredients and formulations business to Ceph Lifesciences Private Limited through a slump sale. This significant transaction is for a consideration of 1,270 Cr. The company plans to use the proceeds strategically for debt repayment, investing in new projects, and distributing funds to shareholders through special dividends or a share buyback, along with general corporate purposes. This move will reshape the company's operational focus and financial structure.