Indo Borax & Chemicals Limited has informed regarding Disclosure of material issue i.e. receipt of the Draft Letter of Offer dated December 30, 2025 ( DLOF ) in connection with the open offer to the public shareholders of the Company issued by IIFL Capital Services Limited, on behalf of Zenrock Chemicals Private Limited, India Special Assets Fund III, ISAF III Onshore Fund and Special Situation India Fund pursuant to Regulation 3(1) and Regulation 4 and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended

Indo Borax & Chemicals Limited has received the Draft Letter of Offer dated December 30, 2025, for an open offer to its public shareholders. The offer is being made by Zenrock Chemicals Private Limited (acquirer) along with three Edelweiss-affiliated funds — India Special Assets Fund III, ISAF III Onshore Fund, and Special Situation India Fund (persons acting in concert). The acquirer and PACs are buying up to 83,43,400 equity shares (26% of voting capital) from public shareholders at ₹256.30 per share, implying a total open offer size of about ₹213.84 crore at full acceptance. This follows an underlying Share Purchase Agreement where the existing promoter (Sajal Sushilkumar Jain) and promoter group are selling 1,63,00,230 shares (50.80% stake) to the acquirer and PACs for ₹417.77 crore, after which the current promoters will be declassified. The open offer is expected to open on February 6, 2026 and close on February 19, 2026, with payment by March 6, 2026.