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2w ago

Torrent to Acquire Controlling Stake in JB Pharma in ₹25,689 Crore Deal

Approval from SEBI to NCLT is awaited; the scheme of arrangement is slated to unify the companies over the next 15–18 months.

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Torrent Pharma eyes top-tier status with Rs 25,689 crore JB Pharma deal
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Overview

  • Torrent has signed definitive agreements to buy 46.39% of JB Chemicals at ₹1,600 per share and will launch a mandatory open offer for 26% at ₹1,639.18 per share.
  • The transaction’s ₹25,689 crore valuation comprises an ₹11,917 crore purchase of KKR’s stake, up to ₹719 crore for employee shares and a ₹6,843 crore open offer.
  • Upon completion of the open offer, JB Pharma shareholders will receive 51 shares of Torrent for every 100 JB shares under a court-approved merger.
  • Regulatory approvals from the Securities and Exchange Board of India, stock exchanges, the Competition Commission of India and the National Company Law Tribunal are pending.
  • The deal strengthens Torrent’s position in India’s chronic-care segment, expands its CDMO footprint internationally and marks KKR’s more than fivefold return on its 2020 investment.