Anupam Rasayan India Limited has informed the Exchange regarding a press release dated February 27, 2026, titled "Anupam Rasayan completes acquisition of 100% equity stake in Jayhawk Fine Chemicals Corporation".
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Anupam Rasayan has completed the acquisition of US-based Jayhawk Fine Chemicals Corporation (part of the CABB Group) for about US$150 million (roughly ₹1,260+ crore), giving it full ownership through its Luxembourg subsidiary Doriath S.à r.l. The deal is funded by US$109 million in Class B non-voting equity shares (mainly US$129 million put in by Oaktree Capital's affiliate) and US$41 million in debt (US$21 million from Axis Bank). Jayhawk, founded in 1941 and based in Galena, Kansas, makes specialty intermediates and high-performance materials, with around 65% of its revenue from performance materials serving electronics, aerospace, energy and polymers, mostly in the US. The company says the acquisition is EPS accretive and will combine with Tanfac Industries and Anupam to build a global specialty chemicals platform with cross-selling and synergy benefits.
Positive for shareholders in the long run — the deal expands Anupam's US footprint, moves it up the value chain into high-end performance materials, and is expected to add to earnings per share. In the short term, the mix of new equity (Class B shares to Oaktree) and debt may lead to some dilution and higher interest costs, but the strategic logic of geographic and product diversification looks strong.