J B Chemicals and Pharmaceuticals Limited has received a tax demand order of ₹4.01 crores from the Joint Commissioner of State Tax, Uttar Pradesh, related to disallowed Input Tax Credit during FY2021-22. The company plans to appeal against this order.

Tax Order Details

The pharmaceutical company received the order, which pertains to the disallowance of Input Tax Credit availed during the financial year 2021-22. The order details are as follows:

Company's Response and Impact Assessment

J B Chemicals and Pharmaceuticals has indicated that it maintains a strong case on merits and will prefer an appeal against the order. The company plans to challenge the tax demand, asserting its position on the disallowed input tax credit.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's proactive disclosure demonstrates its commitment to maintaining transparency with stakeholders regarding regulatory developments that could potentially affect its operations.

J B Chemicals and Pharmaceuticals has become the target of a significant move in the Indian pharmaceutical sector as Torrent Pharmaceuticals Limited launches an open offer. The offer, announced on November 17, 2025, aims to acquire up to 26% of J.B. Chemicals' expanded share capital, marking a notable development in the industry.

Open Offer Details

Torrent Pharmaceuticals is seeking to acquire up to 4,17,45,264 equity shares of J.B. Chemicals & Pharmaceuticals Limited. The offer price has been set at ₹1,639.18 per share, valuing the total offer at approximately ₹6,842.80 crore, assuming full acceptance.

Regulatory Compliance

The open offer is being conducted in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended. An offer opening advertisement cum corrigendum to the Detailed Public Statement (DPS) was published on November 17, 2025, in line with Regulation 18(7) of the SEBI (SAST) Regulations.

Public Announcement

The offer opening advertisement was published in multiple newspapers to ensure wide reach:

The inclusion of a Marathi publication is noteworthy, as it is the regional language where the Target Company's registered office is located and where the maximum volume of trading in the company's shares occurs.

Implications for the Pharmaceutical Sector

This move by Torrent Pharmaceuticals could potentially reshape the competitive landscape in the Indian pharmaceutical industry. The acquisition, if successful, would strengthen Torrent's position in the market and potentially lead to synergies between the two companies.

Investors and industry observers will be closely watching the outcome of this open offer, as it could signal further consolidation trends in the pharmaceutical sector. The offer also reflects the ongoing dynamism and growth potential in India's pharmaceutical market.

As the open offer unfolds, stakeholders will be keen to see the response from J.B. Chemicals' shareholders and any potential impact on both companies' market positions and future strategies.