Torrent Pharmaceuticals Limited has released a corrigendum to its open offer for acquiring up to 26% stake in J B Chemicals and Pharmaceuticals , as per a recent announcement. The offer, valued at ₹6,842.80 crore, targets 4,17,45,264 equity shares at ₹1,639.18 per share.

Key Details of the Open Offer

Corrigendum Publication

The corrigendum was published in multiple newspapers:

• The Financial Express (English - National Daily, All editions)
• Jansatta (Hindi - National Daily, All editions)
• Navshakti (Marathi Daily - Mumbai edition)

Regulatory Compliance

Torrent Pharmaceuticals has requested the BSE and NSE to disseminate this information on their respective websites. The open offer follows a series of regulatory filings:

• Public announcement
• Detailed public statement
• Draft letter of offer

These filings were made in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Impact and Implications

This open offer represents a significant move in the pharmaceutical sector, potentially reshaping the ownership structure of J B Chemicals and Pharmaceuticals. Shareholders of J B Chemicals and Pharmaceuticals now have the opportunity to tender their shares at the offered price.

The corrigendum ensures that all stakeholders, including shareholders and regulatory bodies, are updated with the latest information regarding the open offer. This transparency is crucial for maintaining fair market practices and allowing shareholders to make informed decisions.

As the pharmaceutical industry continues to see consolidation and strategic acquisitions, this move by Torrent Pharmaceuticals could strengthen its market position and expand its product portfolio.

Investors and market analysts will be closely watching the acceptance rate of this open offer, as it could significantly impact the future direction of both companies involved.

J B Chemicals and Pharmaceuticals (JB Chemicals), a leading player in the Indian pharmaceutical industry, has announced significant changes to its board composition and leadership team, signaling a strong commitment to sustained growth and corporate governance.

CEO Re-appointment Signals Continuity in Leadership

JB Chemicals has re-appointed Nikhil Chopra as Chief Executive Officer and Whole-time Director for a five-year term starting October 5, 2025. Under Chopra's stewardship, the company has achieved remarkable growth, outpacing the industry average with a 16% growth rate compared to the sector's 10%.

Chopra's tenure has been marked by significant milestones, including:

• Nearly doubling the company's revenue to over INR 3,000.00 crore in FY23
• Positioning JB Chemicals as one of the fastest-growing companies among the top 25 in the pharmaceutical industry for two consecutive years
• Elevating the company to become one of the top 10 players in cardiology therapy in the Indian pharmaceutical market
• Establishing JB Chemicals as a leader in the hypertension segment

Board Reinforcement with Experienced Directors

The company has also made strategic additions to its board, appointing two new independent directors:

1. Richa Arora: Appointed for a five-year term effective July 10, 2025. Arora brings over three decades of experience in governance, strategy, business transformation, and marketing. Her expertise spans across various sectors, including FMCG and technology.

2. Ashwani Kumar Puri: Set to join the board for a five-year term starting May 14, 2025. Puri, a Chartered Accountant with over 33 years of experience at PwC, brings valuable insights in advisory services and corporate governance.

Continuity in Independent Oversight

In addition to the new appointments, JB Chemicals has re-appointed Sumit Bose as an independent director for a second five-year term, effective August 31, 2025. Bose, a former member of the Indian Administrative Services, has served in various capacities in the Government of India, including as Union Finance Secretary.

Annual General Meeting Highlights

The company held its 49th Annual General Meeting on August 6, 2025, via video conference, where these appointments were approved. The meeting also saw the re-appointment of M/s. Deloitte Haskins & Sells LLP as Statutory Auditors and the appointment of M/s. N L Bhatia & Associates as Secretarial Auditors for a five-year term.

Looking Ahead

These strategic appointments and re-elections reflect JB Chemicals' commitment to maintaining strong leadership and enhancing its board's expertise. With a blend of continuity and fresh perspectives, the company appears well-positioned to build on its recent successes and drive further growth in the competitive pharmaceutical landscape.

As JB Chemicals continues to strengthen its market position, particularly in cardiology and hypertension segments, investors and industry observers will be keenly watching how these leadership changes translate into sustained performance and innovation in the coming years.