Block deal impact: JB Chemicals share price slips over 6% as 90 lakh shares change hands

JB Chemicals shares tumbled over 6% on Thursday, March 27, following a block deal that took place on the exchanges. As many as 90 lakh shares of the company, making up a 5.78% stake, changed hands in the block deal window.

Shares of JB Chemicals were trading at ₹1,602.50 apiece, tanking 6.22% on the National Stock Exchange.

Currently, Tau Investments Holdings PTE Ltd, a fund managed by KKR, holds a 53.66% stake in the firm, as per exchange data.

As per various reports, the block deal’s floor price was set at ₹1,625 per share, representing a 4.9% discount to JB Chemicals’ last closing price. The total deal size was estimated at ₹2,576 crore. Kotak Mahindra Capital, Jefferies, IIFL Capital, and Avendus Capital were the investment bankers managing the transaction.

In the last six months, since September 27, 2024, the scrip has lost 12.89%, while year-to-date, it has fallen 14.76%. Over the last five trading sessions, the stock has declined 2.06%.

Its market capitalisation stands at ₹24,947.27 crore, according to the National Stock Exchange. The stock had touched its 52-week low of ₹1,433.60 per share this month on March 13.  

The pharma company witnessed a 14.17% growth in revenue to ₹ 913.5 crore for the quarter ended December 2024, compared to ₹800 crore during the year-ago period.

Its net profit saw a strong rise of 22.26% to ₹156.3 crore during the third quarter of the financial year 2024-25 as compared to ₹127.9 crore in Q3FY24. Operating profit for the quarter ended December 2024 rose to ₹252.5 crore, as against ₹221.3 crore of the corresponding quarter ended December 2023.

JB Chemicals & Pharmaceuticals manufactures and markets a wide range of pharmaceutical formulations, herbal remedies, and APIs.