Torrent Pharma to acquire majority stake in JB Chemicals & Pharmaceuticals for around Rs 19,500 cr
Torrent Pharma to acquire majority stake in JB Chemicals & Pharmaceuticals for around Rs 19,500 cr
NEW DELHI: (Jun 29) Torrent Pharmaceuticals on Sunday announced the acquisition of majority stake in J B Chemicals and Pharmaceuticals in a Rs 19,500 crore deal to become India's second most-valued pharma company.
Torrent will acquire 46.39 per cent stake from the promoters for about Rs 11,917 crore. It would additionally buy another 2.80 per cent from certain employees of JB Chemicals at the same acquisition price of Rs 1,600 per share (about Rs 719 crore).
Post this, it would make an open offer for buying 26 per cent from open market, as per listing norms, at a price of Rs 1,639.18 per share (totaling Rs 6,842.8 crore).
