JB Chemicals & Pharmaceuticals Limited has informed the Exchange about Public Announcement of open offer for acquisition of Company s equity shares
JBCHEPHARM · price
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Awaiting price reaction for this filing.
Torrent Pharmaceuticals Limited is making a mandatory open offer to acquire up to 4,17,45,264 equity shares (26% of expanded share capital) of J.B. Chemicals & Pharmaceuticals at Rs 1,639.18 per share, aggregating up to ~Rs 6,843 crore. This is triggered by a Share Purchase Agreement dated June 29, 2025, under which Torrent will buy 7,44,81,519 shares (46.39%) from existing promoter Tau Investment Holdings Pte. Ltd. at Rs 1,600 per share, for ~Rs 11,917 crore. Assuming full acceptance of the open offer, Torrent's stake in JB Chemicals will rise to 72.39%. The boards of both companies have also approved a scheme of amalgamation to merge JB Chemicals into Torrent Pharmaceuticals as a going concern, with shareholders to receive Torrent shares in a pre-agreed swap ratio. Required approvals include the Competition Commission of India and Torrent's shareholder approval for increased borrowing limits. Torrent has stated it does not intend to delist JB Chemicals.
This is a significant change of control event for JB Chemicals shareholders — the existing foreign promoter (Tau Investment) is exiting and Torrent Group is taking over, with a subsequent merger planned. Shareholders can tender shares in the open offer at Rs 1,639.18 or hold for the merger swap ratio once announced. The deal is likely to be seen as a positive for the stock in the near term, given the open offer price acts as a floor.