Torrent’s INR 18,000 Cr JB Pharma Buyout Signals Bold Third-Gen Bet on Healthcare & Others

At prevailing market valuations, the total deal size could touch INR 20,734 Cr, with KKR’s exit alone valued at INR 13,433 Cr. A formal announcement is expected in the coming weeks.

Torrent Pharmaceuticals is closing in on a landmark INR 18,000 Cr acquisition of JB Chemicals & Pharmaceuticals, marking its biggest-ever deal and signaling the Torrent Group’s ambitious, diversified growth strategy under its third-generation leadership.

Sources aware of the discussions confirmed that Torrent Pharma is in advanced talks with private equity giant KKR to acquire its controlling 47.84% stake in JB Pharma through its investment arm, TAU Investment. The transaction will trigger an open offer for an additional 26% of the company, potentially giving Torrent control of up to 73.84% if fully subscribed.

At prevailing market valuations, the total deal size could touch INR 20,734 Cr, with KKR’s exit alone valued at INR 13,433 Cr. A formal announcement is expected in the coming weeks.

Third-Gen Torrent Leaders Set Aggressive Growth Targets

The proposed acquisition is part of a wider high-growth, high-investment blueprint designed by the four third-generation leaders of the Ahmedabad-based Torrent Group, one of India’s oldest business houses.

Founder UN Mehta’s sons, Sudhir Mehta and Samir Mehta, have stepped back from active leadership, handing over responsibilities to their four sons, Jinal Mehta, Vice Chairman & Managing Director of Torrent Power and head of Torrent Gas; Varun Mehta, Director at Torrent Power overseeing new business verticals; Aman Mehta, who will take over as Managing Director of Torrent Pharma from August 1; and Shaan Mehta, who currently heads strategic planning at Torrent Pharma.

“We plan to grow group revenues to ₹1 lakh crore from the current ₹40,000–₹42,000 crore and double profits within the next five years,” Samir Mehta, Chairman of Torrent Group, told Fortune India in a recent interview.

Torrent Group Diversifying Beyond Pharma & Power

While Torrent Pharma and Torrent Power have historically driven the group’s revenues, the third-generation is aggressively diversifying into healthcare services including hospitals and diagnostics, and large-scale investments in renewables, green hydrogen, and pumped hydro storage (PHS).

Torrent Power plans to invest nearly INR 1 lakh Cr over the next eight years in renewables, hybrid energy projects, and clean fuel ventures. It’s targeting 5 GW of renewable capacity by FY27–28 and 10 GW by FY32, alongside significant PHS projects and green ammonia facilities.

In FY25, Torrent Pharma’s revenues grew 7% to INR 11,516 Cr with PAT rising 15% to INR 1,911 Cr. Its domestic pharma business, contributing 55% of total revenues, has grown at a CAGR of over 15% since 2018.

Torrent’s acquisition of JB Pharma and its parallel investments in healthcare infrastructure, renewable energy, and energy storage mark a strategic shift towards future-ready sectors, aiming to secure long-term growth while expanding its footprint in high-potential markets.

This transaction also signals one of the most decisive generational leadership transitions in Indian industry with the young Mehtas betting big on next-gen opportunities in clean energy, AI-enabled healthcare, and consumer-centric electrical products.

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