JB Chemicals & Pharmaceuticals Limited — Important, 30-06-2025: Public Announcement-Open Offer

Torrent Pharmaceuticals Limited has announced a board meeting on its Open Offer to acquire up to 4.17 crore equity shares of J.B. Chemicals & Pharmaceuticals Limited, representing 26% of its expanded share capital, at an offer price of INR 1,639.18 per share, amounting to approximately INR 6,843 Cr in cash (assuming full acceptance). This follows Torrent’s agreement to acquire 46.39% stake from the current promoter, Tau Investment Holdings, for INR 1,600 per share, totaling about INR 11,917 Cr. Post-acquisition, Torrent will hold 72.39% in J.B. Chemicals and plans to merge the company into itself through a scheme of amalgamation, issuing shares to J.B. Chemicals’ shareholders on a pre-agreed swap ratio. Torrent does not intend to delist J.B. Chemicals. This move will give Torrent control over J.B. Chemicals and impact shareholder structure significantly.