Complete board overhaul after 50.8 percent stake sale to new buyers

Ceo ResignedCeo Appointed ExternalMultiple Ind Directors ResignedPromoter Family Board EntryKmp ResignedManagement Changes View source PDF Explain this filing

INDOBORAX · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+0.0%Reaction day

₹243.70

prior close

₹243.70

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.1%-0.1% vs market

Commodity Chemicals peers, median of 50sector+0.0%+0.0% vs sector

On the reaction day the stock moved 0.1 pts less than Nifty Microcap 250 and in line with its Commodity Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.7

10m

-0.7

15m

-0.7

30m

-0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.0+0.1-0.1+0.0+0.0

Next day

-0.3+2.2-2.4+1.8-2.1

-0.1+1.8-1.8+1.0-1.1

+1.4+3.6-2.3+1.2+0.2

+0.5+2.3-1.8-0.2+0.7

+1.4+6.1-4.7+2.5-1.1

+0.6+6.4-5.8+2.7-2.1

15d

+0.1+7.0-6.9+0.0+0.1

+0.5+3.8-3.3-2.0+2.4

+0.4-5.2+5.6-11.2+11.6

+3.0+12.5-9.5+4.3-1.3

UpDownMarket · Nifty Microcap 250Sector · Commodity Chemicals peers, median of 50Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Old promoters sold 50.8 percent stake to Zenrock Chemicals and funds on Jan 23, 2026, then fully exited. Board reconstituted: MD Sajal Jain, CEO Saumya Jain, Executive Director Parmar, and 4 independent directors resigned. New MD and CEO Suresh Kalra (ex-Aquapharm, Hubergroup) appointed. 5 other new directors added, including father-son pair Sunil and Harsh Malhotra.

Likely market impact

Total change of control. Old promoters exit, new owners take charge with industry-experienced CEO. Expect near-term stock volatility.