Announced Fri, 28 Aug · 22:44 IST
Open Offer at Rs 157.27 per share by Indo Borax for 25.79% stake in Kronox
KRONOX · price
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Price reaction · full curve 14 horizons · vs prior close
+2.4%1-day move
₹179.05
prior close
₹179.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-2.3-1.4-1.1-0.3+2.4+6.1+2.8+3.0+0.5-2.6————
Up moveDown movePending
AI summary
Indo Borax and Chemicals along with PAC Zenrock Chemicals is making a mandatory open offer to acquire 25.79% (95.70 lakh shares) of Kronox Lab Sciences at Rs. 157.27 per share. This follows a Share Purchase Agreement to buy 64.26% from existing promoters at Rs. 103.22 per share. Total open offer consideration is up to about Rs. 150.47 crores. Upon completion, Indo Borax will become the new promoter of Kronox. The deal aims to expand operations and diversify the acquirer's portfolio.
Likely market impact
Public shareholders can tender shares at Rs. 157.27 cash. Existing promoters exiting, new acquirer taking control. No delisting planned.