KKR's Strategic Stake Sale in JB Chemicals

MUMBAI: In a significant move, Tau Investment Holdings, an affiliate of global private equity giant KKR and the promoter of JB Chemicals, is set to sell approximately 1.6 crore shares, representing a 10.2% stake in the company. This transaction, valued at around Rs 2,575 crore ($300 million), is scheduled to be executed through block deals this Thursday.

The shares are being offered at a floor price of Rs 1,625, marking a 5% discount to JB Chemicals' closing price of Rs 1,709 on the NSE this past Wednesday. This detail was revealed in the term sheet for the deal.

KKR's Investment Journey in JB Chemicals

As per the latest shareholding disclosures on the BSE, KKR held a 53.7% stake in the Mumbai-based pharmaceuticals company as of December 31, 2024. The private equity major initially acquired majority control in JB Chemicals in mid-2020, paying Rs 745 per share.

The current base offer involves nearly 1.1 crore shares, about 6.8% of JB Chemicals, potentially netting KKR around Rs 1,717 crore.

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