Kronox Lab Sciences: Indo Borax open offer DLOF filed at Rs 157.27 per share

Listed Co AcquisitionOpen Offer TriggeredStrategic Transactions View source PDF Explain this filing

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AI summary

Indo Borax and Chemicals along with PAC Zenrock Chemicals filed a Draft Letter of Offer to buy up to 95.7 lakh shares (25.79 percent) of Kronox Lab Sciences from public shareholders at Rs 157.27 per share, totalling Rs 150.51 crore. The open offer follows a Share Purchase Agreement where promoters sell 2.38 crore shares (64.26 percent) to the acquirer at Rs 103.22 per share. Tendering period runs October 15 to 29, 2026. Indo Borax will become the new promoter.

Likely market impact

Open offer at Rs 157.27 gives shareholders a cash exit option. Change of control expected as Indo Borax becomes new promoter after SPA closes.