Nectar Lifesciences to allot 35000 ZCCBs

Mumbai, Apr 26 (UNI) Nectar Lifesciences Ltds issue of 35000 Zero Coupon Convertible Bonds (ZCCBs) - a foreign currency convertible bonds - of US $ 1000 each has been fully subscribed and the transaction was concluded yesterday.

Announcing this, the Company said the subscription amount of US$ 35 million towards the issue of FCCBs has been received by it.

Further, the Companys board at its meeting held yesterday, have issued and allotted 35000 Zero Coupon Convertible Bonds of US$ 1000 each, which are represented by Global Certificate given to the Trustee on behalf of the bondholders.

Nectar Lifescience was incorporated as Surya Medicare Ltd. in 1995 and the name was later changed to Nectar Lifescience in 2003. It manufactures oral and sterile bulk drugs.

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