The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Zenrock Chemicals Pvt Ltd & PACs
INDOBORAX · price
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Zenrock Chemicals Private Limited (along with PACs including Special Assets Fund III, ISAF III Onshore Fund, and Special Situation India Fund) acquired 24,44,534 equity shares representing 7.62% of Indo Borax & Chemicals Ltd on April 30, 2026. This acquisition was made pursuant to an open offer to public shareholders. Before the acquisition, the acquirer held 50.80% stake (1,63,00,230 shares). Post-acquisition, the holding increased to 58.41% (1,87,44,764 shares). Notably, 98,82,230 shares (30.80% of total capital) remain under encumbrance/pledged. The total share capital of the company is 3,20,90,000 equity shares of Rs. 1 each.
The promoter group, led by Zenrock Chemicals, has strengthened its control by crossing the 58% threshold through open offer acquisition. This increases promoter dominance but the high pledge ratio of 30.80% on promoter holdings may raise concerns about potential encumbrance risks.