Indo Borax & Chemicals Limited has informed the Exchange about Copy of Newspaper Publication of recommendation of Committee of Independent Directors of Indo Borax & Chemicals Ltd under regulation 26(7) of SEBI (SAST) Regulations, 2011
INDOBORAX · price
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The Committee of Independent Directors (IDC) of Indo Borax & Chemicals Limited has recommended that the open offer price of ₹256.30 per share is fair and reasonable. The offer is being made by Zenrock Chemicals Private Limited (Acquirer) along with three Persons Acting in Concert (PACs) — India Special Assets Fund III, ISAF III Onshore Fund, and Special Situation India Fund — to acquire up to 83,43,400 equity shares representing 26% of the voting capital. The total offer value is approximately ₹213.84 crore in cash. The IDC noted the offer price exceeds the 60-day volume weighted average market price on NSE (₹253.23) and matches the highest negotiated price under the underlying share purchase agreement dated December 15, 2025. The three IDC members were present and unanimously approved the recommendation, which has been published in Financial Express, Jansatta, and Navshakti newspapers.
Shareholders can consider the offer price fair as confirmed by independent directors, though they should independently evaluate the company's fundamentals and market performance before deciding to tender shares.