Nectar Lifesciences has executed the Business Transfer agreement with Capnest Health Care (Purchaser) for sale of business of manufacture, distribution and marketing of Empty Hard Gelatin Capsule unit at Village Bhatoli Kalan, Pargana Dharmpur, Tehsil Baddi, District Solan, Himachal Pradesh (Business) of the Company to Purchaser for Rs 19.90 crore and takeover of Accounts Receivables and payables/ creditors by Purchaser or such other working capital adjustments as per the BTA, as a slump sale on a going concern basis and the Transaction shall take place in accordance with the terms set out in the BTA.
The rationale for the slump sale is to utilise the sale proceeds for strategic purposes, including, investment in new projects and general corporate purposes, as deemed fit by the Board or its committee, in accordance with applicable law.
Incorporated in 1995, Nectar Lifesciences is a leading global manufacturer of cephalosporin antibiotics medicines.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1681.15 |
| Dr. Reddys Lab | 1223.50 |
| Cipla | 1239.75 |
| Zydus Lifesciences | 945.55 |
| Lupin | 2315.00 |
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