Anupam Rasayan shares rise after announcing $150 million acquisition of Jayhawk Fine Chemicals

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 (AUM) in excess of $100 billion. The company expects this acquisition to be Earnings Per Share (EPS) accretive for them.

The acquisition will mark a step in Anupam Rasayan's long-term strategy of expanding its global CDMO (contract manufacturing) presence and establish strong presence in the US & global specialty chemicals market. Here are some of the other key factors cited by the company:

Strengthening US Presence: This will mark the company's foray into onshore manufacturing within the US, aligning with its global expansion strategy. Jayhawk's customer base and US operations give the company immediate access to key end markets and leading multinational customers.

Expansion into Performance Materials:

This will also result in the company's Polymer portfolio expansion, by adding high-value dianhydrides and polyimide intermediates to its product portfolio. These products have applications across semiconductors and high-performance materials industry.

Forward Integration: After ensuring backward integration through the Tanfac deal, Anupam Rasayan will now move forward in the value chain by manufacturing N-1 molecules for critical sectors. This will also enable new downstream opportunities, open opportunities to a new set of global customers and also strengthen relationship with existing ones through cross-selling, the exchange filing said.

Cost efficiency and integrated supply chain and innovation along with R&D synergies are some of the other opportunities cited by Anupam Rasayan in its statement after the acquisition.

Shares of Anupam Rasayan are trading 2% higher on Wednesday at ₹1,320.2. The stock has gained over 80% so far in 2025.