Tau Investment Holdings Pte is likely to sell a 10.2% stake in Mumbai-based drugmaker JB Chemicals & Pharmaceuticals Ltd through a block deal, sources privy to the developments told CNBC-TV18.
The offer price for the transaction is set at ₹1,625 per share, reflecting a 4.9% discount to the current market price, sources in the know told CNBC-TV18. The total deal size is estimated at ₹2,576 crore, the sources added.
As part of the agreement, there will be a 90-day lock-in period, preventing any further sale of shares.
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JB Chemicals and Pharmaceuticals reported a 21.6% year-on-year (YoY) surge in net profit at ₹162.5 crore for the third quarter that ended December 31, 2024, compared to ₹133.6 crore in Q3 FY24.
The company’s revenue from operations increased 14.1% to ₹963.5 crore against ₹844.5 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA was up 14.1% to ₹254.5 crore in the third quarter of this fiscal over ₹223.1 crore year-on-year.
The EBITDA margin remained the same at 26.4% in the reporting quarter versus 26.4% in the year-ago quarter. EBITDA is earnings before interest, tax, depreciation, and amortisation.
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Shares of J B Chemicals and Pharmaceuticals Ltd ended at ₹1,703.40, down by ₹22.30, or 1.29%, on the BSE.
(Edited by : Shoma Bhattacharjee)