Anupam Rasayan’s stock edged more than 2% higher after the company revealed that it has signed a definitive agreement to acquire Jayhawk Fine Chemicals Corporation, a U.S.-based specialty chemicals manufacturer currently part of the CABB Group. The announcement, made to the exchanges on December 9, 2025, marks a meaningful milestone in Anupam Rasayan’s push to strengthen its global CDMO capabilities and widen its reach in advanced performance materials.
The deal carries a total value of roughly USD 150 million. This amount includes both the equity purchase and the repayment of outstanding loans to Jayhawk’s exiting shareholders. After factoring in Jayhawk’s USD 16 million in cash and cash-equivalent holdings, the implied enterprise value stands near USD 134 million. Jayhawk posted USD 78 million in revenue and delivered USD 15 million in adjusted EBITDA during calendar year 2024, placing the acquisition at an EV/EBITDA multiple of about nine times.
To fund the transaction, Anupam Rasayan plans to rely on a mix of internal accruals, debt, and quasi-equity infusion from a global investment management firm that oversees more than USD 100 billion in assets. The company noted that the addition of Jayhawk is expected to be earnings-accretive, reflecting both the financial fit and the strategic long-term benefits of the acquisition.
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