Torrent Pharma Launches Open Offer for Rs 6,843 Crore Stake in JB Chemicals
AI-Generated Summary
Torrent Pharmaceutical Ltd has announced an open offer to acquire a 26% stake in JB Chemicals and Pharmaceuticals Ltd, valued at Rs 6,843 crore. This follows an earlier announcement to acquire a controlling stake from KKR in a deal worth Rs 25,689 crore. The acquisition price per share is set at Rs 1,639.18, with regulatory approvals already being sought from bodies like the CCI and South African Competition Commission.
In a nutshell
This significant move marks a major expansion for Torrent Pharma within the pharmaceutical sector, potentially strengthening its market position and product portfolio through the acquisition of JB Chemicals. It highlights continued consolidation and strategic investment within the Indian pharmaceutical industry, driven by both domestic players and global investment firms like KKR.
Source: NDTV Profit
