Promoters selling 50.8 percent stake to Zenrock Chemicals and funds at Rs 256 per share
INDOBORAX · price
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Promoters of Indo Borax and Chemicals have signed a Share Purchase Agreement on December 15, 2025 to sell 1.63 crore equity shares (50.80 percent of paid-up capital) to Zenrock Chemicals Private Limited along with three funds for Rs 256.30 per share. The buyers will cross 25 percent voting rights, so a mandatory open offer for an additional 26 percent of shares from public shareholders will follow under takeover rules. After completion, the promoter group will exit and lose control of the company. The acquirer will appoint 3 new directors while two existing directors will resign.
Major change of control. Promoters fully exit. Mandatory open offer at premium likely. Board reshuffle expected.