Monday, September 28
Torrent Pharma is in advanced discussions with private equity group KKR to buy JB Chemicals and Pharmaceuticals, almost 10 months after their initial discussions fell through, said multiple people aware. KKR the controlling shareholder owns 47.84% of the company via its investment vehicle TAU Investment.The transaction will include buying out KKR from its 5 year old investment. In July 2020, KKR acquired around 54 percent of JB Pharma from its promoters and founders, the Mody family, for approximately Rs 3,100 crore translating to Rs 745 per share. It will also trigger an open offer for an additional 26% of the company. If fully successful, Torrent could end up owning 73.84 per cent of the company.At current price, that could lead to a Rs 20,734.61 crore buyout for Torrent – its largest
Bharat Heavy Electricals Limited (BHEL) has received a Rs 6,500 crore order from Adani Power Ltd. (APL) for six thermal units of 800 MW. A BHEL statement said Letter of Award is for Supply of equipment (Steam Turbine Generator along with auxiliaries) and Supervision of Erection & Commissioning for these projects.The public sector undertaking commissioned/synchronised 8.1 GW of power capacity in fiscal 2024-25. BHEL’s total order book at the end of FY 2024–25 stood at Rs 1,95,922 crore.In the power sector, BHEL won orders worth Rs 81,349 crore last year. The industrial segment recorded fresh orders worth Rs 11,185 crore in the same year.
