IIFL Capital Services Limited has submitted to the Exchange a copy of Letter of offer

Listed-company acquisitionOpen offer triggeredStrategic Transactions 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

+3.3%Reaction day

₹246.00

prior close

₹246.19

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.1%+2.2% vs market

Commodity Chemicals peers, median of 50sector+1.2%+2.1% vs sector

On the reaction day the stock moved 2.2 pts more than Nifty Microcap 250 and 2.1 pts more than 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

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10m

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15m

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30m

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+3.3+1.1+2.2+1.2+2.1

Next day

+3.2+1.4+1.8+1.4+1.8

+3.3+5.6-2.4+5.7-2.5

+3.2+5.6-2.3+5.6-2.3

+3.6+7.8-4.2+8.4-4.8

+4.0+7.8-3.7+8.7-4.6

+3.3+11.8-8.5+14.9-11.6

15d

+0.0+15.8-15.8+16.4-16.3

+10.4+18.9-8.5+17.8-7.4

+51.2+17.7+33.5+14.2+37.0

+62.6+27.5+35.1+13.3+49.3

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

Zenrock Chemicals Private Limited, along with three Edelweiss-managed Alternative Investment Funds (PACs), is making an open offer to acquire up to 83,43,400 equity shares (26% of voting capital) of Indo Borax & Chemicals Limited at ₹256.30 per share. The total maximum consideration is ₹213.84 crore. The existing promoters (Sajal Sushilkumar Jain and family) have already sold their stake to the Acquirer and PACs under a Share Purchase Agreement and were declassified as promoters on January 23, 2026. The Acquirer already holds 30.80% stake through the underlying transaction. The tendering period runs from April 10 to April 24, 2026. Financing is structured through ₹390 crore in non-convertible debentures and ₹75 crore in compulsorily convertible preference shares issued to the PACs.

Likely market impact

This open offer will further dilute public shareholding as the acquirer seeks additional 26% stake. Shareholders can tender at ₹256.30 with proportionate acceptance if oversubscribed. The transaction represents a change of control with institutional backing.