Torrent Pharmaceuticals to Acquire 26.00% Stake in JB Chemicals & Pharmaceuticals for INR 6,842.80 Crore

Torrent Pharmaceuticals Limited has announced an open offer to acquire up to 4,17,45,264 fully-paid-up equity shares of JB Chemicals & Pharmaceuticals Limited, representing 26.00% of the expanded share capital, at a price of INR 1,639.18 per share. This offer is being made pursuant to Regulations 3(1) and 4 read with Regulations 13(1), 14 and 15(1) of the SEBI (SAST) Regulations. The offer price is determined in accordance with Regulations 8(1) and 8(2) of the SEBI (SAST) Regulations and will be paid in cash. This is a mandatory open offer made by the Acquirer in compliance with Regulations 3(1) and 4 of the SEBI (SAST) Regulations, subject to receipt of the Required Statutory Approvals.