KKR Sells 5.8% Stake in JB Chemicals & Pharmaceuticals for INR 1,460 Cr

Following this sale, Tau Investment Holdings' stake in JB Chemicals has dropped from 53.66% to 47.88%.

Global investment firm KKR has divested a 5.8% stake in JB Chemicals and Pharmaceuticals, raising INR 1,460 Cr through open market transactions.

According to bulk deal data from the National Stock Exchange (NSE), KKR’s Tau Investment Holdings Pte, the promoter entity of JB Chemicals, offloaded 89.83 lakh shares in four separate transactions.

Further, the shares were sold at prices ranging from INR 1,625 to INR 1,625.34 per share, bringing the total deal value to INR 1,459.84 Cr.

Following this sale, Tau Investment Holdings' stake in JB Chemicals has dropped from 53.66% to 47.88%.

Meanwhile, Kotak Mahindra Mutual Fund acquired over 12.30 lakh sharesequivalent to a 0.8% stake at an average price of INR 1,625 per share, with a total deal value of INR 200 Cr.

Details of other buyers were not available.

Market reaction was swift, with JB Chemicals' stock dropping 6.15% on Thursday to close at INR 1,603.65 on the NSE.

KKR had initially acquired a 65% stake in JB Chemicals in 2020. Founded in 1976, JB Pharma operates across multiple therapeutic segments, including gastroenterology, dermatology, and diabetes.

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