JB Chemicals & Pharmaceuticals Limited's erstwhile promoter, Tau Investment Holdings Pte.

Ltd., has released an encumbrance on its entire holding of 7.45 Cr shares, representing 47.55% of the company's total share capital.

This action was taken because Tau Investment had sold these shares to Torrent Pharmaceuticals Limited.

As a result, Tau Investment no longer holds any shares in JB Chemicals and has been reclassified from a 'promoter' to a 'public' shareholder.

Tau Holdco Pte.

Ltd., which had an indirect pledge on its holdings in Tau Investment, is also indirectly impacted by this full exit.

This means a significant block of shares has changed hands from a former promoter to a new acquirer.