India's JB Chem and Pharma down as Torrent Pharma to buy stake at discount

J B Chemicals and Pharmaceuticals

30/06/2025 05:18

Corrects to add dropped word "billion" in bullet 3

** India's JB Chem and Pharma JBCH.NS plunges 6.3% to 1,688 rupees

** Larger rival Torrent Pharma TORP.NS to buy controlling 46.4% stake in JBCH from private equity firm KKR at 1,600 rupees per share, an 11% discount to JBCH's closing price on Friday

** Deal also values JBCH at 256.89 billion rupees ($3 bln), a 2.7% discount to its market cap

** Shares of TORP climb 0.6%

** Analysts say JBCH buy would give TORP access to its popular brands including "Rantac", "Metrogyl" and "Sporlac"

** Avg rating on JBCH at "strong buy", while TORP rated "buy" - data compiled by LSEG

** YTD, JBCH down 8.8% vs TORP's 0.3% decline

($1 = 85.4650 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))