Change of control: Indo Borax acquires 64.26% in Kronox Lab Sciences; board reshuffled

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KRONOX · price

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Price reactionminutes from the announcement price · days from the prior close

-1.4%Reaction day

₹217.00

prior close

₹217.20

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.3%-1.1% vs market

Specialty Chemicals peers, median of 97sector+0.0%-1.4% vs sector

On the reaction day the stock moved 1.1 pts less than Nifty Microcap 250 and 1.4 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.3

10m

+0.1

15m

-0.0

30m

+0.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.4-0.3-1.1+0.0-1.4

Next day

-5.3-1.5-3.7-1.0-4.2

-7.9-1.5-6.4-1.3-6.6

-4.8-0.2-4.5+0.5-5.2

-3.0-0.5-2.5+0.4-3.4

-7.4-3.2-4.1-1.7-5.7

-4.1-2.2-1.9-1.3-2.8

15d

-11.6-9.5-2.2-9.2-2.4

-13.8pendingpending-8.3-5.5

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UpDownMarket · Nifty Microcap 250Sector · Specialty Chemicals peers, median of 97Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Indo Borax and Chemicals acquired 64.26 percent (2.38 crore shares) of Kronox Lab Sciences from existing promoters on Sep 29, 2026, completing a change of control deal signed Aug 20, 2026. Sellers now hold just 9.95 percent and have exited the promoter group. Board reorganised: Suresh Kalra appointed MD and CEO, Sunil Malhotra and Harsh Malhotra as executive directors, three new independent directors added, and Shashikant Bharuka named new CFO. Old MD, whole-time directors, and CFO resigned. Outgoing promoters signed 36 month consultancy deals worth INR 2.1 crore each.

Likely market impact

Complete change of control at Kronox Lab Sciences. New management and board are in place; old promoters stay on as paid consultants for three years.