Torrent Pharma seeks CCI nod to acquire majority stake in JB Chemicals for Rs 19,500 cr
After the completion of the deal, Torrent Pharmaceuticals will become India's second most valued pharma company.
Explore courses from Top Institutes in
Select a Course Category
CXO
others
MBA
Operations Management
Leadership
Data Analytics
Artificial Intelligence
Design Thinking
Product Management
MCA
Public Policy
Technology
healthcare
Digital Marketing
Others
Cybersecurity
Data Science
Management
Healthcare
Degree
Data Science
Project Management
PGDM
Finance
Skills you'll gain:
Technology Strategy & Innovation
Emerging Technologies & Digital Transformation
Leadership in Technology Management
Cybersecurity & Risk Management
Duration:
24 Weeks
Indian School of Business
ISB Chief Technology Officer
Starts on
Jun 28, 2024
Get Details
Skills you'll gain:
Customer-Centricity & Brand Strategy
Product Marketing, Distribution, & Analytics
Digital Strategies & Innovation Skills
Leadership Insights & AI Integration Expertise
Duration:
10 Months
IIM Kozhikode
IIMK Chief Marketing and Growth Officer
Starts on
Apr 7, 2024
Get Details
Skills you'll gain:
Digital Strategy Development Expertise
Emerging Technologies & Digital Trends
Data-driven Decision Making
Leadership in the Digital Age
Duration:
40 Weeks
Indian School of Business
ISB Chief Digital Officer
Starts on
Jun 30, 2024
Get Details
Skills you'll gain:
Operations Strategy for Business Excellence
Organizational Transformation
Corporate Communication & Crisis Management
Capstone Project Presentation
Duration:
11 Months
IIM Lucknow
Chief Operations Officer Programme
Starts on
Jun 30, 2024
Get Details
The development came after Torrent Pharmaceuticals in June this year announced the acquisition of a majority stake in J B Chemicals and Pharmaceuticals in a Rs 19,500-crore deal.
"The proposed combination relates to acquisition of shareholding by the acquirer (Torrent Pharmaceuticals Ltd) in the target (J B Chemicals & Pharmaceuticals Ltd) and the subsequent amalgamation of the target with the acquirer," according to a notice filed with the Competition Commission of India (CCI).
Torrent Pharmaceuticals is the flagship company of the Torrent group and is engaged in the business of manufacturing and sale of pharmaceutical formulations (FDFs) across therapeutic segments.
Live Events
J B Chemicals & Pharmaceuticals is engaged in business of manufacturing and marketing of diverse range of FDFs and APIs (Active Pharmaceutical Ingredients) and also provides CDMO (Contract Development and Manufacturing Organisation) services as well.
The parties (
Torrent Pharma
and J B Chemicals) said that their activities exhibit horizontal overlaps in certain relevant markets for the manufacturing and sale of FDFs in India.
In June, Torrent said it will acquire 46.39 per cent stake from promoters Tau Investment Holdings Pte Ltd, an affiliate of global investment firm KKR, for about Rs 11,917 crore. It would additionally buy another 2.80 per cent from certain employees of
JB Chemicals
at the same acquisition price of Rs 1,600 per share (totaling Rs 719 crore).
Post this, it would make an open offer for buying 26 per cent from open market, as per listing norms, at a price of Rs 1,639.18 per share (totaling Rs 6,842.8 crore).
This will be the second biggest deal in the pharma sector ever, behind
Sun Pharmaceutical Industries
' 2015 acquisition of Ranbaxy Laboratories. Post share purchase, JB Pharma will merge into Torrent.
In 2020, KKR had bought a 65 per cent stake in JB Chemicals & Pharmaceuticals. In March this year, KKR divested a 5.8 per cent stake in JB Pharma for Rs 1,460 crore through open market transactions.
Established in 1976, JB Pharma produces a range of pharmaceuticals in areas such as gastroenterology, dermatology and diabetes, etc.
Torrent Pharma, with annual revenues of more than Rs 11,500 crore, is the flagship company of the Torrent Group, with group revenues of Rs 45,000 crore.
In April 2014, Sun Pharma had announced it would acquire troubled rival Ranbaxy in an all-stock transaction worth USD 4 billion that includes USD 800 million debt. The merger was 'consummated' following receipt of requisite approvals a year later in March 2015.
In another big deal,
Mankind Pharma
last year completed the transaction to acquire Bharat Serums and Vaccines for a consideration of Rs 13,768 crore.
ETMarkets WhatsApp channel
)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
19 minutes ago
- India.com
Rs 4700000000000: Enemy has 1650 fighter jets, India has only 522; India needs huge money for..., will IAF be able to...
(File) In an environment which is political tensed and tensions continue to simmer across India's borders with China and Pakistan, various questions are being asked about the Indian Air Force's preparedness vis-à-vis India's two neighbours, Pakistan and China. According to various reports, China has 66 squadrons of fighter jets with each squadron having 18 to 20 planes each, taking the total number to 1200, which is nearly double the number of aircrafts 600 fighter aircrafts. Here are all the details you need to know about Indian Airforce's current capacity. Indian Airforce vs China and Pakistan Apart from China, India's enemy Pakistan has 25 squadrons of fighter jets having around 450 fighter jets. Therefore, if India retires the two squadrons of Mig-21 planes which are expected to retire in the next few days, the capacity of the Indian Air Force is expected to decrease. What does Indian Air Force need? As per media reports, the cost of a single jet was estimated at around Rs 1,600 crore. Considering inflation and upgrades, the current price of a Rafale or its advanced variant is unlikely to be below Rs 2,000 crore per jet. Given that India requires 234 fighter jets, the total cost of the procurement deal is projected to be approximately Rs 4.70 lakh crore, as per a report by News 18 Hindi. India's 5th-generation stealth fighter jet gets key clearance In an important development for India's air superority, Defence Minister Rajnath Singh approved the Execution Model for the Advanced Medium Combat Aircraft (AMCA) programme. As per a report by IANS news agency, the AMCA clearance marks a critical step towards realising India's goal of joining an elite club of nations in designing and producing its own fleet of next-generation combat aircraft. The IANS report also says that the project will be helmed by the Aeronautical Development Agency (ADA) of the Defence Research and Development Organisation (DRDO), said the Defence Ministry in a press release. The AMCA, widely seen as India's answer to fifth-generation air power, will give a major boost to achieving 'atmanirbharata' in the defence sector and will become a hallmark of India's growing defence capabilities. (With inputs from agencies)
Hans India
19 minutes ago
- Hans India
Homegrown brand Tenali Double Horse rides the quick commerce wave to pan-India success with Instamart
For many younger, urban consumers, platforms like Instamart have become the gateway to discovering regional gems. One such story comes from a Bangalore-based software engineer who stumbled upon Tenali Double Horse while looking for premium-quality dals during a late-night grocery run on Instamart. 'I had never heard of the brand before, but the packaging looked authentic, and the reviews were great. I tried their Urad Gota—and now I don't buy anything else.' she shared. Stories like these reflect a growing trend where digital discovery is breathing new life into legacy brands, bridging the gap between tradition and convenience for a new generation of urban Indian consumers. With two decades of agricultural excellence, Tenali Double Horse, a premium pulses brand from Tenali in Andhra Pradesh's Guntur district, is broadening its retail reach by tapping into India's fast-growing digital consumer base. Nearly 20% of its online business now comes through Instamart, supporting its growth into new markets. Today, Tenali Double Horse, a small brand born in the heart of Andhra Pradesh, is accessible across 12 Indian states - Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, West Bengal, Delhi NCR, Maharashtra, Odisha, Punjab, Haryana, and Kerala on Instamart. This highlights how quick commerce platforms are enabling legacy and regional brands to reach wider geographies and new customer segments, particularly urban consumers seeking speed, quality, and convenience. Founded by Mr. Mohan Shyam Prasad in 2005, the brand's entry into quick commerce via Instamart demonstrates how traditional businesses are leveraging modern retail to meet the growing demand for accessible, high-quality food. Its flagship product, Urad Gota, has earned strong brand loyalty and drives repeat purchases, while other staples like Toor Dal, Moong Dal, Channa Dal, and Idly Ravva are emerging as top sellers in the Dals & Pulses category on Instamart. 'At Instamart, we're committed to enabling India's most trusted and promising brands to reach consumers with speed, quality, and ease. Tenali Double Horse represents the best of regional excellence, and our partnership showcases how traditional businesses can thrive in the quick commerce ecosystem. Consumers today are actively seeking high-quality, authentic products they can trust, and Tenali Double Horse's standout offerings like Urad Gota, Urad Ladoo, and Millets Ladoo are consistently becoming pantry essentials for users across India.' said Arjun Choudhary, VP Revenue & Growth, Instamart He added, 'By bridging deep-rooted legacy with modern convenience, we're not only expanding access to premium, homegrown products but also empowering heritage regional brands to scale rapidly and connect with a new generation of digital-first consumers.' "While our brand enjoys strong recognition and demand in the market, Instamart has helped us connect with time-crunched urban consumers across India who appreciate quality and seek convenience. It has helped us serve both our loyal customers more efficiently and introduce our products to first-time buyers beyond our geographical presence. We have also leveraged Instamart's platform insights to diversify and innovate our product range to meet the taste of modern consumers looking for authentic and high-quality traditional items like millet-based items, pickles, gunpowder, chocolates, and more." said Mohan Shyam Prasad, Founder of Tenali Double commerce has empowered Tenali Double Horse to not just streamline its sales and logistics but also fast-track product feedback and innovation cycles. Beyond their renowned pulses and dals, the brand has expanded its portfolio to high-demand items such as authentic pickles, gunpowders, spices, savouries, dry fruits, and chocolates. Catering to health-conscious consumers, Tenali Double Horse has also diversified from its core pulses business into millets, offering urban and conscious buyers an interesting range of offerings like millet laddus, millet noodles, millet cookies, millet-based ready-to-cook and ready-to-eat products, including six variants of whole grains and its hot-selling Urad Laddus, which will soon be available on Instamart. Maintaining its quality-first approach, Tenali Double Horse is positioning itself to capture the emerging health food market by combining its regional authenticity with the speed and convenience of quick commerce.
Hans India
19 minutes ago
- Hans India
MIC Electronics Signs Strategic MOU with Singapore-Based Neo Semi SG to Explore Entry into Semiconductor & AI Energy Sectors
MIC Electronics Limited (BSE: 532850 | NSE: MICEL), a public-listed company with a strong legacy in smart infrastructure and electronics manufacturing, has signed a preliminary, non-binding Memorandum of Understanding (MOU) with Neo Semi SG Pte. Ltd., a Singapore-based deep-tech platform company. This strategic collaboration signals MIC's entry into fast-evolving, innovation-led sectors including semiconductor IP, AI-driven energy logistics, and circular electronics. Speaking on the announcement, Rakshit Mathur, CEO of MIC Electronics, said, 'This MOU is not just a strategic move, it is a commitment to India's future. By aligning with Neo Semi's deep-tech capabilities and global IP-led platforms, MIC aims to lead the next phase of smart and sustainable technology manufacturing in India. This is in step with India's ambitions to emerge as a global semiconductor and energy innovation powerhouse, and we are proud to be playing a catalytic role in that journey.' The MOU comes at a time when India is accelerating its push toward self-reliance in electronics and renewable energy under flagship initiatives such as Make in India and Aatma Nirbhar Bharat. MIC's move is aligned with the national agenda to strengthen indigenous capabilities in high-technology domains and foster a future-ready manufacturing ecosystem. Through this partnership, MIC aims to tap into next-generation technologies that promote digital inclusion, sustainability, and global competitiveness. Neo Semi SG operates across Singapore, the UAE, India, and the U.S., and is focused on advanced semiconductor IP development through global tech collaborations, AI-powered clean energy logistics, and circular electronics via sustainable recommerce platforms. According to industry estimates, these sectors present a combined global opportunity of over USD 50 billion by FY28. The proposed collaboration seeks to combine Neo Semi's innovation engine and global IP platforms with MIC's execution strength, robust public-sector delivery experience, and its 100,000 sq. ft. certified manufacturing base. Together, the two entities aspire to create a unique Indo-global platform for rapid go-to-market deployment of scalable, ESG-compliant technologies. Under the terms of the MOU, MIC Electronics will have exclusive negotiation rights for 90 days. During this period, both parties will engage in detailed due diligence, financial evaluation, and explore the structuring of definitive agreements. The MOU is non-binding in nature, except for clauses relating to confidentiality and exclusivity. Any future transaction will be subject to board approvals, regulatory consents, and the successful execution of binding agreements. This disclosure is being made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Investors are advised that the current MOU should not be construed as a firm commitment or assurance of a completed acquisition.
