Torrent Pharmaceuticals Limited has announced that it will acquire up to 2.41% of the equity share capital of JB Chemicals & Pharmaceuticals Limited (JB Chemicals) for a total consideration of approximately ₹620 crore.
In a filing dated July 3, 2025, Torrent Pharma said it signed a share purchase agreement (SPA) with 48 employees of JB Chemicals to purchase 38,75,056 equity shares at ₹1,600 per share. This follows the board’s earlier approval (on June 29, 2025) to acquire a controlling stake in JB Chemicals.
The acquisition is subject to shareholder and regulatory approvals, and will be completed after Torrent finalizes the controlling stake transaction in JB Chemicals. The company may also acquire an additional 0.39% stake (around 6.24 lakh shares) from other employees at the same price if definitive agreements are signed later.
Torrent clarified that the acquisition does not constitute a related-party transaction, and the promoter group has no interest in the deal.
This move strengthens Torrent’s position in the Indian pharmaceutical space as it looks to consolidate its presence by acquiring a majority stake and additional shares from JB Chemicals’ employees exercising their stock options.
Details of the acquisition:
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Stake: 2.41% equity in JB Chemicals
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Number of shares: 38,75,056
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Price per share: ₹1,600
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Total consideration: ₹620 crore
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Sellers: 48 employees of JB Chemicals
The company also indicated it would disclose further transactions related to the potential acquisition of the remaining 0.39% stake in due course.
