Indo Borax to acquire 64.26% stake in Kronox Lab Sciences
KRONOX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Indo Borax & Chemicals will acquire a 64.26% stake in Kronox Lab Sciences for Rs. 246.12 crore via a Share Purchase Agreement with promoters and Zenrock Chemicals (acting as Person Acting in Concert). The deal covers 2,38,44,000 equity shares of Rs. 10 face value each. Indo Borax Board has also approved an open offer for an additional 25.79% (up to 95,70,000 shares). Erstwhile promoters will retain 9.95% and provide transition support. Closing expected within 3 months. Kronox reported FY26 revenue of about Rs. 101 crore and PAT of about Rs. 28 crore.
Change-of-control acquisition with a mandatory open offer. Minority shareholders may get an exit opportunity; stock price likely to react to open offer price.