Torrent Pharma is in advanced discussions with private equity group KKR to buy JB Chemicals and Pharmaceuticals, almost 10 months after their initial discussions fell through, said multiple people aware. KKR the controlling shareholder owns 47.84% of the company via its investment vehicle TAU Investment.
The transaction will include buying out KKR from its 5 year old investment. In July 2020, KKR acquired around 54 percent of JB Pharma from its promoters and founders, the Mody family, for approximately Rs 3,100 crore translating to Rs 745 per share. It will also trigger an open offer for an additional 26% of the company. If fully successful, Torrent could end up owning 73.84 per cent of the company