KKR, JB Chemicals promoter, to sell 10% for Rs 2.6k crore

MUMBAI: Tau Investment Holdings, an arm of global private equity major KKR, the promoter of JB Chemicals, is selling about 1.6 crore shares (10.2%) of the company for about Rs 2,575 crore ($300 million) through block deals on Thursday.

The shares are being sold at a floor price of Rs 1,625, about 5% discount to JB Chem’s Wednesday NSE closing price of Rs 1,709, the term sheet for the deal showed. According to shareholding disclosures on the BSE, as of Dec 31, 2024, KKR was holding 53.7% in the city-based pharmaceuticals company. The PE major had acquired the majority control in the drug maker in mid-2020 at Rs 745 per share.

The base offer in the deal is for nearly 1.1 crore shares (about 6.8%) of JB Chem that could bring in about Rs 1,717 crore for KKR.