JB Chemicals & Pharma shares fell by 7% due to block deal of 90 lakh shares. This behavior is likely to be done by KKR & Co Chi Tau Investment Holdings. Due to this…
Share Market Crash: Today, Thursday, March 27, a decline of about 7% was seen in the shares of pharma sector company JB Chemical and Pharma, after which it would have traded at the level of 1,576.65. The decline in JB Chemical and Pharma shares was seen due to a block deal in which 90 lakh shares were bought and sold.
According to the information received regarding the block deal, these 90 lakh shares are about 5.78% of the total equity of the company. Or as a result of the deal, KKR & Co units are likely to be sold by Tau Investment Holdings.
However, the parties participating in the block deal have not been officially confirmed. A media report earlier said that KKR & Company’s Unitary Investment Holdings is planning to sell 6.8% equity stake in JB Chemicals and Pharmaceuticals through a secondary share sale. Or the deal offer price would have been Rs 1625 per share, which would have been 4.12% less than Wednesday’s NSE closing price of Rs 1695.
JB Chemicals Stock Performance
Shares of JB Chemicals have declined by 2.86% in the last 1 year, and 14.84% since the beginning of the year (YTD). In the last 6 months, 13.02% shares are vacant and in the last 3 months, 11.97% are vacant. However, in the last 1 month the shares have given a positive return of 1.98%, which shows a slight improvement.