Announced Thu, 20 Aug · 13:18 IST
Promoters sell 64.26% stake to Indo Borax Chemicals; open offer triggered
KRONOX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+38.5%1-day move
₹153.35
prior close
₹177.70
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+2.2+4.8+4.8+4.8+38.5+33.7+21.8+27.4+22.6+16.1+12.8+15.1——
Up moveDown movePending
AI summary
Promoters of Kronox Lab Sciences signed an agreement to sell 2,38,44,000 shares (about 64.26% stake) to Indo Borax & Chemicals at Rs 103.22 per share. This triggers a mandatory open offer to public shareholders under SEBI takeover rules. Effective price including consultancy fees is Rs 105.87 per share. Change of control will follow, with the Acquirer becoming the new promoter and appointing 3 directors. Sellers retain 9.95% under a lock-in.
Likely market impact
Major change of control coming. Public shareholders will get an open offer exit opportunity. Stock may move toward the offer price.