IIFL Capital Service Ltd has submitted to the Exchange a copy of offer opening public announcement in accordance with Regulation 18(7) of SEBI (SAST) Regulations, 2011 as amended ( SEBI(SAST) Regulations ") cum corrigendum tot the detailed public statement for the attention of the public shareholders of the company.
INDOBORAX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Zenrock Chemicals Private Limited (Acquirer) along with three PACs is making an open offer to acquire up to 83,43,400 equity shares (26% of voting capital) from public shareholders at ₹256.30 per share. The Acquirer has already completed an underlying transaction acquiring 50.80% stake from the promoter group at the same price. PACs collectively hold 35% stake (PAC1: 20%, PAC2: 7.44%, PAC3: 7.56%). The Independent Directors' Committee recommended the offer as fair and reasonable, noting the offer price exceeds the 60-day volume weighted average market price of ₹225.23 and equals the highest negotiated price under the SPA. SEBI has approved the Letter of Offer and there is no competing offer. The tendering period opens April 10, 2026.
This is a standard open offer following a change of control. The Acquirer has already gained majority ownership (50.80% + 35% via PACs = 85.8%) and is offering a modest 8.6% premium over market price to remaining public shareholders. The offer appears to be proceeding normally with SEBI approval.