Torrent Pharma To Launch Open Offer For 26% Stake In J.B. Chemicals

J.B. Chemicals & Pharmaceuticals Ltd. said Friday that Torrent Pharmaceuticals Ltd. will acquire up to 41.75 million shares, or 26% stake, in the company via an open offer. The offer is priced at ₹1,639.18 per share and will open in August. 20, closing in September. 3, the company said in an exchange filing.

NovaaOne Capital Pvt. Ltd. is managing the open offer, with KFin Technologies Ltd. acting as the registrar.

This follows Torrent Pharma’s June announcement to acquire a controlling stake in J.B. Chemicals for ₹256.89 billion. The deal includes acquiring a 46.39% equity stake from KKR for ₹119.17 billion at ₹1,600 per share, and an additional 2.8% stake from employees, taking its total to 49.19%—which triggered the mandatory open offer.

Torrent Pharma has said it plans to begin integrating J.B. Chemicals into its operations from early 2026, after the open offer process concludes.