Torrent Pharmaceuticals Limited — Important, 29-06-2025: Agreements

Torrent Pharmaceuticals has announced a board meeting approving a definitive agreement to acquire a 46.39% stake in J.B. Chemicals & Pharmaceuticals (JB Pharma) from KKR for INR 11,917 Cr (INR 1,600/share), followed by a mandatory open offer for up to 26% at INR 1,639.18/share. An additional potential acquisition of up to 2.80% from JB Pharma employees at the same price is planned. Post-acquisition, Torrent will merge with JB Pharma on a share exchange ratio of 51 Torrent shares for every 100 JB Pharma shares. This deal enhances Torrent’s presence in chronic therapies, expands IPM market share, adds CDMO capabilities, and provides international diversification.