JBCHEPHARM

Feb 5 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• JB CHEMICALS - NARAYAN SARAF RESIGNS AS CFO

Source text: ID:nBSE5GJ84b

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Jan 23 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• CO BUYS 2.36% STAKE OF J.B. CHEMICALS

• FOLLOWING ACQUISITION, HOLDS 48.75% OF JB CHEMICALS EQUITY

Source text: ID:nNSE91DwlC

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Jan 21 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• COMPLETES ACQUISITION OF JB CHEMICALS SHARES

Source text: ID:nNSEKKsyK

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MUMBAI, Jan 19 (Reuters) - India's Torrent Pharmaceuticals TORP.NS has accepted bids worth 110 billion rupees ($1.21 billion) through multiple maturity bonds in the largest acquisition-funding deal so far this financial year, two bankers said on Monday.

The company raised 20 billion rupees through two-year bonds, 25 billion rupees through three-year bonds, 30 billion rupees through four-year papers and 35 billion rupees via a five-year debt.

The company invited commitment bids for all issues on Friday and secured large mutual funds and pension funds as anchor investors.

Torrent is raising funds for acquiring a controlling stake in JB Chemicals & Pharmaceuticals. The company will acquire a controlling stake in JB at an equity valuation of about 257 billion rupees on a fully diluted basis, to be followed by a merger of the two companies.

Torrent Pharma did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on January 19:

* Size includes base plus greenshoe for some issues

($1 = 90.7112 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)

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Jan 16 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• DEC-QUARTER CONSOL NET PAT 1.98 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 10.65 BILLION RUPEES

Source text: ID:nBSE8571Y8

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By Dharamraj Dhutia

MUMBAI, Jan 8 (Reuters) - India's Torrent Pharmaceuticals TORP.NS is set to raise up to 125 billion rupees ($1.4 billion) through short-duration bond sales in January, in one of the latest acquisition-funding deals, two bankers said.

The issuance is expected to span maturities of one to five years. Torrent also plans to raise 15 billion rupees via commercial paper to fund its acquisition of a controlling stake in JB Chemicals & Pharmaceuticals.

"The company is in the process of finalising rates and the allocation of quantum for each maturity, and once these things are finalised, they would open the issue for bidding on the electronic platform," one of the bankers said.

Torrent Pharma did not reply to a Reuters email seeking comment. The bankers requested anonymity as they are not authorised to speak to media.

The bond issue has been rated AA+ by India Ratings and Research, which said the deal will lift Torrent Pharma’s ranking in the domestic market to fifth from seventh by market share.

Torrent has agreed to acquire a controlling stake in JB at an equity valuation of about 257 billion rupees on a fully diluted basis, to be followed by a merger of the two companies.

The bond sale would be the largest rated fund-raising so far this financial year, which runs from April to March, extending a trend of acquisitions being financed through domestic bond markets.

JSW Group raised 70 billion rupees via zero-coupon bonds in September to fund the purchase of up to a 75% stake in the Indian unit of Dutch paint maker Akzo Nobel.

Two Jubilant Bhartia Group subsidiaries raised a combined 56.50 billion rupees through zero-coupon bonds in June to fund the acquisition of a 40% stake in Hindustan Coca-Cola Holdings.

($1 = 89.9170 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)

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Jan 7 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• ADDITIONAL INVESTMENT OF 180 MILLION RUPEES IN UNIQUE PHARMACEUTICAL LABORATORIES, FZE

Source text: ID:nNSE61Gs0k

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Dec 16 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• COMPANY GETS TAX DEMAND ORDER OF 40.1 MILLION RUPEES

Source text: ID:nBSE66Sk0X

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July 30 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• Q1 CONSOL NET PAT 2.02 BILLION RUPEES

• Q1 CONSOL REVENUE FROM OPERATIONS 10.94 BILLION RUPEES

Source text: ID:nBSE56c3R3

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July 3 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• AGREES TO BUY FURTHER 2.41% STAKE OF J.B. CHEMICALS FOR ABOUT 6.2 BILLION RUPEES

Source text: ID:nBSE82mH2n

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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)

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By Abu Sultan and Mrinmay Dey

June 29 (Reuters) - India's Torrent Pharmaceuticals TORP.NS said on Sunday it will acquire a 46.39% controlling stake in smaller peer JB Chemicals and Pharmaceuticals JBCH.NS from New York-based investment firm KKR KKR.N, and plans to merge the two drugmakers.

The transaction, announced in a joint statement released by the three companies, implies a total equity valuation of 256.89 billion rupees ($3.01 billion) for JB Pharma on a fully diluted basis.

"This strategic alignment furthers our goal of strengthening our presence in the Indian pharma market, and building a larger diversified global presence," Torrent Executive Chairman Samir Mehta said in the statement.

Under the terms of the deal, Torrent will initially acquire an equity stake in JB Pharma from KKR for 119.17 billion rupees.

Following this, Torrent will launch a mandatory open offer to acquire up to an additional 26% of JB Pharma shares from public shareholders at 1,639.18 rupees per share.

Torrent also signaled its intent to acquire up to 2.80% of equity shares from certain JB Pharma employees, the company said.

The second phase of the transaction involves a merger of Torrent and JB Pharma through a scheme of arrangement. Upon merger, JB Pharma shareholders will receive 51 Torrent shares for every 100 JB Pharma shares held.

KKR also confirmed the deal in a separate statement.

"We are confident that the combined strengths of our organizations will unlock greater opportunities to enhance healthcare access across our markets," said JB Pharma CEO Nikhil Chopra.

India is Torrent's biggest market by revenue, where it competes with peers such as Mankind Pharma MNKI.NS.

Torrent offers drugs used to treat cancer, infections and diabetes, and has benefited from steady demand for its specialty and chronic illness drugs.

For the January-March quarter, its consolidated net profit was up 11% from a year earlier.

JB Chemicals and Pharmaceuticals, meanwhile, reported higher fourth-quarter profit in May.

Along with the steady market for its gastrointestinal medicines, Metrogyl and Sporlac, the company also benefitted from demand for its drugs that treat chronic conditions such as hypertension.

($1 = 85.4400 Indian rupees)

(Reporting by Abu Sultan and Mrinmay Dey in Bengaluru; Editing by Joe Bavier)

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April 2 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• APPROVED ACQUISITION OF SHARES OF JAMNAGAR RENEWABLES ONE FOR 70 MILLION RUPEES

Source text: ID:nnAPN2Q1AGW

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March 28 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• TAU INVESTMENT HOLDINGS SOLD 5.78% STAKE IN CO VIA ON-MARKET SALE

Source text: ID:nBSE8yNr9P

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** 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)

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March 14 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• USFDA INSPECTION OF COMPANY’S API MANUFACTURING FACILITY – D9 AT PANOLI, GUJARAT

• FACILITY RECEIVED “NO OBSERVATIONS” AND THUS NO FORM 483 WAS ISSUED

Source text: [ID:]

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Feb 19 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• J B CHEMICALS AND PHARMACEUTICALS - GOT TAX ORDER FOR DEMAND OF 6.8 MILLION RUPEES

Source text: ID:nNSE9db9Rl

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** J.B. Chemicals and Pharmaceuticals JBCH.NS rises as much as 2.7% to 1,789.95 rupees; set for second straight session of gains

** Co reports ~22% y/y rise in Q3 consol net profit, helped by sustained domestic demand for its drugs used to treat chronic and acute conditions

** Rev from ops grows 14% y/y

** Stock rated "buy" on avg; median PT is 2,230 rupees - LSEG

** JBCH cuts YTD losses to 5.5%

($1 = 87.1170 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Feb 4 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• JB CHEMICALS - GETS TAX ORDER WITH DEMAND OF 3.5 MILLION RUPEES

Source text: [ID:]

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Jan 16 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• DEMAND OF 8.1 MILLION RUPEES FOR MISMATCH IN INPUT TAX CREDIT

Source text: ID:nBSE4NZJ5D

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Nov 6 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• Q2 CONSOL NET PROFIT 1.75 BILLION RUPEES

• Q2 CONSOL REVENUE FROM OPERATIONS 10.01 BILLION RUPEES

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Oct 1 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• APPROVED CAPACITY ADDITION TO IV MANUFACTURING FACILITY AT PANOLI

• ESTABLISHMENT OF DEDICATED MANUFACTURING LINE FOR POVIDONE/IODINE LIQUID, OINTMENT

• INVESTMENT REQUIRED FOR IV MANUFACTURING EXPANSION AT 494.9 MILLION RUPEES

• INVESTMENT REQUIRED FOR MANUFACTURING LINE AT 215.5 MILLION RUPEES

Source text for Eikon: ID:nBSE4nSYTm

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Aug 8 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• Q1 CONSOL NET PROFIT 1.77 BILLION RUPEES; IBES PROFIT EST. 1.65 BILLION RUPEES

• Q1 CONSOL REVENUE FROM OPERATIONS 10.04 BILLION RUPEES; IBES EST. 10.16 BILLION RUPEES

Source text for Eikon: ID:nBSE2gJSYk

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- Source link: (https://shorturl.at/Bb3Nq)

- Note: Reuters has not verified this story and does not vouch for its accuracy

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MUMBAI/BENGALURU, May 6 (Reuters) - Global investment firm KKR KKR.N will buy Indian medical devices maker Healthium Medtech HEAT.NS from UK-based Apax Partners in a deal that three sources with direct knowledge of the matter say is valued at 70 billion rupees ($838.60 million).

Healthium and Apax did not immediately respond to Reuters' requests seeking comment, while KKR declined to comment.

KKR will acquire Healthium through a special purpose vehicle - owned by KKR-managed funds - that will have a controlling interest in Healthium group, including Healthium Medtech, the three companies said in a statement.

The acquisition marks KKR's latest investment in the Indian healthcare sector, with the firm already holding stakes in Indian drugmaker J B Chemicals and Pharmaceuticals JBCH.NS, hospital chain operator Max Healthcare MAXE.NS and generic injectables maker Gland Pharma GLAD.NS.

Private equity firm Apax bought Healthium, which is involved in the manufacturing of products used in surgical, post-surgical, and chronic care procedures, in 2018.

($1 = 83.4725 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru, M. Sriram in Mumbai, Kane Wu in Hong Kong; Editing by Janane Venkatraman )

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April 29 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• J B CHEMICALS AND PHARMACEUTICALS - GOT TAX ORDER FOR DEMAND OF 3.1 MILLION RUPEES

Source text for Eikon: ID:nNSE5F12gL

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- Source link: (https://bityl.co/P5hQ)

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** Shares of JB Chemicals and Pharmaceuticals JBCH.NS extend losses from yesterday, currently down 5.5% at 1,511.75 rupees

** Top shareholder KKR mulls selling controlling stake in co, Bloomberg reported on Wednesday, citing people familiar with the matter

** Stock closed almost 3% lower Wednesday

** JBCH declined to comment, KKR did not immediately respond to Reuters' requests

** Avg analyst rating is "buy"; median PT is 1,720.5 rupees - LSEG data

(Reporting by Varun Vyas in Bengaluru)

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** Shares of JB Chemical and Pharmaceuticals Ltd JBCH.NS end 3% lower at 1,600.2 rupees

** Top shareholder KKR mulls selling controlling stake in co, Bloomberg reports, citing people familiar with the matter

** JBCH was down about 0.4% before the report

** Co, KKR did not immediately respond to Reuters requests for comment

** KKR via Tau Investment Holdings owns 53.8% stake in co, stake sale at early stage - report

** Eleven analysts tracking JBCH rate it "buy" on avg; median PT is 1,720.5 rupees - LSEG data

** Stock down 5% this month

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of J B Chemicals and Pharmaceuticals JBCH.NS rise as much as 12.5% to all-time high of 1,940 rupees

** Indian drugmaker reported ~26% YoY rise in Dec-qtr consol net profit on strong domestic and overseas demand

** Stock last up 4.5%, set for sixth straight session of gains

** Volume tops 1.7 mln shares in heavy trading, 12.7x the 30-day moving avg

** Avg rating of 11 analysts on JBCH at "buy"; median PT is 1,655.50 rupees - LSEG data

** JBCH rose 67% in 2023, posting its fifth straight yearly gain

(Reporting by Kashish Tandon in Bengaluru)

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