The United States-based global investment firm- Kohlberg Kravis Roberts (KKR) & Co. Inc. will buy the majority of 54 percent stake in JB Chemicals and Pharmaceuticals. 54 percent stake of Mumbai based JB Chemicals and Pharmaceuticals is worth Rs 3,109 crore.

In India, this will be the second investment by KKR in a space of two months. Earlier in May. KKR has invested Rs 11,367 crore for a 2.32 percent stake in Reliance Industries Limited’s Jio Platforms. The investment in Jio Platforms was the largest Investment of KKR in Asia to date.

For the deal, investments will be made by KKR through its 3 subsidiary companies. The companies are Tau Investments Holdings Pte. Ltd, Tau Holdco Pte. Ltd and KKR Asia III Fund Investments Pte.

For the 54 percent stake deal, KKR will be acquiring 41.7 million equity shares of JB Chemicals and Pharmaceuticals.

JB Chemicals and Pharmaceuticals

Along with his two brothers, the company was founded in 1976 by J.B Mody. JB Chemicals started as a manufacturer of Active Pharmaceutical Ingredient (API) and today it owns some of India’s top pharmaceutical brands such as Rantac, Metrogyl, etc. Today in more than 40 countries, JB Chemicals and Pharmaceuticals exports its products.

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