Indo Borax & Chemicals Limited has informed the Exchange regarding Board meeting held on July 21, 2025.
INDOBORAX · price
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The board of Indo Borax & Chemicals, at its meeting on July 21, 2025, approved the sale of three asset categories to promoter group members on an 'as is where is' basis: a residential property in Bandra West (INR 42.5 crores), an office property in Santacruz West (INR 14 crores), and three vehicles including a Mercedes Maybach S680, Aston Martin DBX 707, and Audi Q7 (INR 5.52 crores), taking the total deal value to about INR 62 crores. The buyers are promoter and MD/CFO Sajal Sushilkumar Jain, CEO Saumya Sajal Jain, and two other promoter group family members, making this a related-party transaction being undertaken at arm's length. The combined consideration exceeds 20% of the company's FY25 total income of INR 190.85 crores, so shareholder approval is being sought via a postal ballot notice to be dispatched on July 25, 2025, with completion expected by March 31, 2026.
This is a non-core asset sale (property and personal-use vehicles) worth around INR 62 crores to the promoter family, which will boost the company's cash pile but is being treated as a related-party transaction requiring shareholder approval. For shareholders, the key thing to watch is the postal ballot outcome; the sale itself is not material to the company's chemicals business operations.