Nectar Lifesciences Ltd., or NLL, an Indian integrated pharmaceutical organization, said it raised last month Rs.91 crore on allotting 2.60-lakh equity shares of Re.1 each at Rs.35 per share on a preferential basis to NSR Direct PE Mauritius, LLC. The price worked out to 4% over the closing price of Rs.33.70 on February 19 at the NSE.
Further, the Chandigarh-based company issued 4.60-lakh global depository receipts or GDRs on February 26, each representing one equity share of Re.1 each at a price of $0.76 or Rs.35 per share, and raised $34.96 million or Rs.161 crore.
By virtue of investing Rs.91 crore, NSR Direct will become the single largest non-promoter (0verseas) investor in the company, the company said.
It appointed Vivek Sett as a nominee director from NSR on the board of the company.
Consequent to the preferential and GDR issues, the paid-up capital of the company rose to Rs.224,260,970, comprising 224,260,970 equity shares of Re.1 each.
Nectar Life said the amount generated from the issue would be used for expanding its generic pharmaceutical business, including construction of new manufacturing plants, R&D, and other associate expenditure, apart from strategic alliances and acquisitions.
NSR Direct is associated with New Silk Route Partners, a high- quality global investor and a leading growth-capital firm with over $1.4 billion under management. It is one of the leading India-centric global PE funds operating out of the US.
Commenting on the allotment, Executive Director of Nectar Aryan Goyal said: "NLL has hailed association of NSR with the company as landmark achievement which is likely to add tremendous value to NLL's march into highly attractive formulations markets of US, Europe and Japan, which will leapfrog NLL into the big league in the next 5 years."
Chief Executive Officer and Director Dinesh Dua said: "We are delighted to have a global high-quality investor like NSR on our board. The capital raised will help us implement our strategic business plans of expanding our generic pharma business along with construction of new manufacturing facilities, which are expected top drive accelerated growth in the future. Over the past few years, we created a strong platform that can harness our capabilities in the international new generation cephlosporin markets, while entering into high margin non-cephlosporin therapeutic segments like anti-diabetes, oncology, anti-HIV and CVS segments either through greenfields or acquisitions."
At the BSE, Nectar Lifesciences is currently trading at Rs.39.900, up by Rs.3.15 or 8.57% on a volume of 49,69,000 shares. The scrip touched an intraday high of Rs.42.05 and a low of Rs.35.00.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.