India's JB Chemicals falls after large block deal

J B Chemicals and Pharmaceuticals

27/03/2025 04:44

** India's JB Chemicals & Pharmaceuticals JBCH.NS falls nearly 8%, set for biggest daily loss since April 2020

** Over 9 million shares, representing 5.79% stake in the company, change hands in a large block deal at 1,630 rupees, a discount of 4.6% to Wednesday's close, as per LSEG data

** Data shows multiple other smaller blocks in the price range of 1,620 rupees-1,639 rupees

** Promoter Tau Investment Holdings, a unit of private equity firm KKR, which holds 53.66% stake in JBCH, launches block deal to divest around 7% stake for $200 million, with an option to sell another 3.5% holding, says Moneycontrol report

** Around 10.4 million shares change hands on NSE, nearly 6x the six-month avg volume

** JBCH down 14.5% YTD

 (Reporting by Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com;))