Global private equity firm KKR , the promoter of JB Chemicals and Pharmaceuticals, has launched a block deal with a base size of around $200 million via seeking to dilute part stake in the leading drugmaker, multiple industry sources in the know told Moneycontrol.
"The block deal has been launched a short while back and the plan is to divest around 7% stake. There is an upsize option to sell an additional 3.5% stake worth around $100 million," said one of the persons cited above.
Tau Investments Holdings PTE Ltd, an affiliate of funds managed by KKR, holds a 53.66% stake in JB Chemicals, as per latest exchange data.
A second person added, "The floor price is Rs 1,625 per share and Kotak Mahindra Capital, Jefferies, IIFL Capital and Avendus Capital are the i-bankers working on the trade."
A third person confirmed the above.
All the three persons cited above spoke on the condition of anonymity to Moneycontrol.
At the end of day's trade on March 26, the market cap of JB Chemicals was Rs 26,518 crore.
Moneycontrol has sent email queries and could not elicit an immediate response from KKR and JB Chemicals. This article will be updated as soon as we hear from the firms.
In 2025, KKR had held discussions with strategic suitors as well as private equity players to exit JB Chemicals and Pharmaceuticals and sell its entire stake , but those talks did not fructify into a deal due to a valuation mismatch.
In July 2020, KKR agreed to buy around 54% stake in JB Chemicals for around Rs 3,100 crore.
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