22/01/2026
Torrent Pharma recognised as new promoter of JB Chemicals; CEO to step down.
The transaction, executed under a share purchase agreement signed in June 2025, was completed on January 21, 2026
Torrent Pharmaceuticals has been formally recognised as the new promoter of Mumbai-based JB Chemicals & Pharmaceuticals, after completing the acquisition of a 46.39 per cent stake in the company. The move has triggered a change of control, a reconstitution of the board and the exit of its chief executive officer (CEO).
In a regulatory filing on Wednesday, JB Chemicals said its board had also taken on record the resignation of Nikhil Chopra as Whole-time Director with immediate effect, and noted that he will step down as CEO at the close of business hours on March 31, 2026, following the change in control. Chopra will continue as CEO until then to ensure an orderly transition, the company said. The transaction, executed under a share purchase agreement signed in June 2025, was completed on January 21, 2026.
The ownership transition has also led to board-level changes, with non-executive, non-independent directors Gaurav Trehan, Akshay Tanna and Prashant Kumar resigning with effect from the conclusion of the board meeting. Prashant Kumar has also stepped down from board committees where he was a member.
Ref: https://www.thehindubusinessline.com/companies/torrent-pharma-recognised-as-new-promoter-of-jb-chemicals-ceo-to-step-down/article70532895.ece