JB Chemicals shares dive 7% after 90 lakh shares change hands in block deal
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The shares of JB Chemicals & Pharmaceuticals today fell by 7.4% in early trade, to their day’s low of Rs 1,576.65 on the BSE as 90 lakh shares reportedly exchanged hands in a block deal, where KKR & Co unit Tau Investment Holdings is likely the seller. As per reports by Moneycontrol, KKR sold a 5.78% stake in the company. However, the official parties to the transaction are not currently known. According to a previous ET report, KKR & Co unit Tau Investment Holdings was expected to sell a 6.8% equity stake in JB Chemicals and Pharmaceuticals via a secondary share sale, citing a term sheet seen by it. The offer price for the deal was expected to be Rs 1,625 per share which is a discount of 4.12% over Wednesday’s closing price of Rs 1,695 on the NSE. The Book Running Lead Managers (BRLMs) are Kotak Securities, Jefferies, IIFL Capital, and Avendus Capital. Live Events JB Chemicals is a pharmaceutical company with a diverse portfo...