Nectar Lifesciences Limited was incorporated as Surya Medicare Limited. (SML) on June 27, 1995 as a public limited company pursuant to a financial collaboration agreement dated December 18, 1995 ("Financial Collaboration Agreement") between the Promoters and Punjab State Industrial Development Corporation ("PSIDC"). PSIDC had invested in 33,30,000 Equity Shares of the Company at Rs. 10 per share aggregating Rs. 33 million. In terms of the Financial Collaboration Agreement, the Promoters were required to buy back the shares from PSIDC. The entire shareholding of PSIDC was bought back by the Promoters at a price of Rs. 16.47 per share in April 2003 under the One Time Settlement ("OTS") policy announced by Government of Punjab - Industrial Policy, 2003. Subsequently, we changed our name to Nectar Lifesciences Limited on March 26, 2004. Our manufacturing facility is located in the 'B' Category zone of Punjab and commenced business with the commercial production of Oral Bulk Drugs in April 1997. In March 1998, the project was fully completed and we also started the production of Sterile Bulk Drugs. During 1999, we added formulation facilities by setting up a vial filing section. We undertook an expansion in FY 2000. The installed capacity of the plant increased to 810 MTs from 406 MTs. We also installed one Crystalline section of 65 MT per annum in 2001. This new Crystalline section commenced production in October 2001. In FY 02, we undertook another expansion programme increasing the production capacity for Cephalosporin Sterile. Since FY 04 we have been implementing an expansion programme at a Derabassi (Unit II) to increase its manufacturing facilities in the fields of Cephalosporins, non-antibiotics and modernization of our existing facilities. Our subsidiary Chempharma was incorporated under the laws of Sri Lanka on October 18, 2002. It is a wholly-owned subsidiary of our Company, set up to manufacture API intermediaries. We had proposed to make a public issue of 6,400,000 Equity Shares of Rs. 10 each for cash at par in 1996. We had filed the offer document with SEBI on June 21, 1996 and received the SEBI acknowledgement card no. 5/1266/96-NRO/2622 on July 15, 1996. This issue was however not launched. We had also planned a public issue of 3,870,000 Equity Shares of Rs. 10 each for cash at a premium of Rs. 50 per Equity Share in 2004 for financing a project in terms of the objects to the issue. We filed the Draft Red Herring Prospectus with SEBI on September 30, 2003 and received the acknowledgement card no. CFD/DIL/UR/4279.2004 dated March 1, 2004. We also received in principle approval from the Stock Exchange, Mumbai vide Us letter dated November 18 2003 (ref no. DCS/sg/ak/2003) and in principle approval from he National Stock Exchange of India Limited vide its letter dated December 2, 2003 (ref: NSE/LIST/57045). Between filing the Draft Red Herring Prospectus and receiving the SEBI acknowledgement card, we approached our bankers - State Bank of India and Punjab National Bank for financing the said project which was otherwise planned to be financed through the issue proceeds. Our management decided against launching the issue after receiving an assurance from our bankers for financing the proposed project. Investment by the Private Equity Investors We were set up as a financial collaboration unit with PSEDC in 1995. In April 2003, our Promoters acquired the entire shareholding of PSIDC in our Company. In 2001, Swiss Technology Venture Capital Fund (Private) Limited ("Swisstech") invested Rs. 64 million to subscribe to 1,066,667 Equity Shares pursuant to the equity share subscription and shareholders agreement dated February 20, 2001 ("Shareholders Agreement"). On March 15, 2005, our Promoters acquired all the shares held by Swisstech. 2007 - Nectar Lifesciences Ltd has appointed Mr. Basant Kumar Goswami, I.A.S. (retd.) on the Board as an additional director (Independent director) of the Company who shall hold the office upto the date of next Annual General Meeting. 2008 - The Company has splits its face value from Rs10/- to Rs1/-. 2009 -The company has recommended the Final Dividend of Re. 0.10 per equity share. -Nectar Lifesciences elevates to the rank of 365 in the list of India's top companies 2010 -The Company have declared the interim dividend of Re. 0.25/- per equity share. -NecLife granted 'Certificate of Suitability' for Cefuroxime Axetil in European Union 2011 -NecLife announces the receipt of Japanese MOH approval for Cefuroxime Axetil -NecLife announces the receipt of South Africa 'MCC' approval for Ceftriaxone. -The Company has recommended 10% Final Dividend i.e. Re. 0.10/- per equity share -European cGMP Approval for NecLife's Cephalosporin Formulation Facility 2012 -NecLife granted 'Certificate of Suitability' for Cefuroxime Sodium (Sterile) in European Union". -The Company recommendation of 10% Final Dividend i.e. Re 0.10/- per equity share. -The Company has appointed Mr. Harparkash Singh Gill on the Board as Wholetime Director [designated as President (Operation) & Director. 2013 - Nectar Lifesciences Ltd has appointed Mr. Dinesh Dua as an Additional Director as well as Wholetime Director (designated as Chief Executive Officer) of the company. 2014 - Mr. Sanjiv Goyal, CMD, Nectar Lifesciences Ltd., Chandigarh gets coveted Outstanding Entrepreneurship of the Year from Asia Pacific Enterprise Awards(APEA)". - NecLife gets European cGMP Approval for its Orals & Injectables Cephalsporins FDF Facility. 2015 - Nectar Lifesciences Ltd. honoured with NECA 2015 Award . 2019 -Nectar Biopharma launches generic diabetes treatment drug in India.