Kronox changes hands: Indo Borax buys 64.26 percent stake, full board reconstituted

Listed Co AcquisitionStrategic Transactions View source PDF Explain this filing

KRONOX · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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 Zenrock Chemicals completed purchase of 64.26 percent stake (2.38 crore shares) in Kronox Lab Sciences from existing promoters. The old promoters now hold only 9.95 percent. Entire board reconstituted: Suresh Kalra is new MD and CEO, Sunil Malhotra and Harsh Malhotra are new executive directors, Shashikant Bharuka is new CFO. All 3 old independent directors resigned and 3 new ones appointed. Former promoters signed 36 month consultancy deals at INR 2.1 crore each with 24 month lock in.

Likely market impact

Complete change of control done. New management installed. Watch for open offer obligation and stock volatility going ahead.