Open offer by Indo Borax at Rs 157.27 per share for 25.79% stake in Kronox Lab

Open Offer TriggeredListed Co AcquisitionStrategic Transactions View source PDF Explain this filing

KRONOX · price

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₹186.19

prior close

₹191.00

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AI summary

Indo Borax to make open offer to Kronox Lab shareholders at Rs 157.27 per share for 95.7 lakh shares (25.79% voting capital), worth about Rs 150.5 crores. Triggered by Share Purchase Agreement dated Aug 20, 2026 where Indo Borax buys 2.38 crore shares (64.26%) from current promoters at Rs 103.22 per share for Rs 246 crores. Indo Borax is controlled by Zenrock Chemicals. No delisting planned; existing promoters will cease to be promoters post deal.

Likely market impact

Shareholders can tender at Rs 157.27 per share in cash. Change of control; existing promoters will exit and be reclassified as public post completion.