Shares of Anupam Rasayan ltd. gained as much as 3% on Wednesday, December 10, as the company announced the signing of definitive agreements to acquire 100% stake in Jayhawk Fine Chemcicals Corporation after market hours on Tuesday.

Anupam Rasayan will acquire the US-based specialty chemicals company for a total purchase consideration of $150 million. This is inclusive of the equity stake and existing loans payable to the exiting shareholders.

The purchase consideration translates into an enterprise value of $134 million as Jayhawk had cash and cash-like items worth nearly $16 million as of June 2025.

Anupam Rasayan intends to finance the acquisition through a mix of internal accruals, debt, and quasi equity from a leading global investment management firm who has Assets Under Management

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