New Delhi, March 27 -- Shares of JB Chemicals and Pharmaceuticals tumbled over 7 percent in early trade on March 27 following a large block deal. The transaction, which saw 90 lakh shares or a 5.78 percent stake change hands, triggered selling pressure. As per reports, the deal is part of a broader stake dilution move by global private equity firm KKR, the promoter of JB Chemicals, as it seeks to partially exit the leading drugmaker.

According to media reports, KKR launched the block deal with a base size of around USD 200 million, aiming to dilute part of its holding in JB Chemicals. Tau Investments Holdings PTE Ltd, an affiliate of funds managed by KKR, currently holds a 53.66 percent stake in the company, as per the latest exchange da...