Torrent Pharmaceuticals Ltd.TORNTPHARM₹3,408.20 +2.00%

Torrent Pharmaceuticals Ltd. has announced a major strategic move to acquire and merge with JB Chemicals & Pharmaceuticals, marking one of the largest M&A transactions in the Indian pharmaceutical sector. The transaction involves the acquisition of a 46.39% equity stake in JB Pharma for a cash consideration of ₹11,917 crore (at ₹1,600 per share).

As per SEBI regulations, Torrent will launch an open offer to acquire up to 26% of JB Pharma’s public shareholding at ₹1,639.18 per share. In addition, Torrent has expressed intent to acquire up to 2.80% of shares held by JB Pharma employees at the transaction price. Upon completion of these steps, JB Pharma will be merged into Torrent Pharmaceuticals, with Torrent as the surviving listed entity.

The proposed merger is aimed at strengthening Torrent’s position in high-growth therapeutic areas, enhancing brand equity, and creating a deeper, broader portfolio. The combined entity is expected to become the 5th largest pharmaceutical company in India by secondary sales and 4th by prescription volume, with a pro forma revenue of over ₹15,000 crores.

The share swap ratio has been set at 51:100. JB Pharma shareholders will receive 51 equity shares of Torrent for every 100 shares held.

The transaction and merger are subject to multiple regulatory approvals, including those from the Competition Commission of India (CCI), SEBI, stock exchanges, NCLT, and shareholders. The overall implementation timeline is expected to span 15 to 18 months.

Torrent’s latest move builds on its established track record of value-accretive acquisitions and marks a significant consolidation step in India’s competitive pharmaceutical landscape.

Note: The stock price mentioned is as of 3:30 PM.

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Registered office – 2, Floor 3, Wing A, Block A, Salarpuria Softzone, Service Road, Green Glen Layout, Bellandur, Bengaluru South, Bengaluru, Karnataka – 560103, INDIA.

CIN: U65990KA2021PTC146954.