Torrent Pharmaceuticals Ltd is in definitive agreements to acquire a controlling stake of 46.39% equity stake (fully diluted basis) in JB Chemicals And Pharma Limited from KKR, a global investment giant, at an estimated value of ₹ 25,689 crore.
The transaction will happen in two phases. In the first phase, Torrent will be acquiring a 46.39% stake via a share purchase agreement for ₹11,917 crore. And after that, a mandatory open offer to acquire additional shares of JB Pharma up to 26% of public shares at ₹1,639.18 per share.
“Torrent’s deep India presence and JB Pharma’s fast-growing India business, combined with the CDMO and international footprint, offer immense potential to scale both revenue and profitability,” said Samir Mehta, the Executive Chairman of Torrent.
“As we now enter a new chapter alongside Torrent Pharmaceuticals, we are confident that the combined strengths of our organisations will unlock greater opportunities to enhance healthcare access across our markets,” expressed CEO and Whole Time Director of JB Pharma, Nikhil Chopra.
Gaurav Trehan, Co-Head of Asia Pacific and Head of Asia Pacific Private Equity at KKR and CEO of KKR India, expressed, “We had collaborated with JB Pharma’s management team, led by Nikhil Chopra, to bring the breadth of KKR’s global experience and operational expertise to support the company’s organic and inorganic growth and help JB Pharma become one of India’s fastest-growing branded pharmaceutical companies.”
