20-Aug-2026      20:17

Indo Borax seeks to acquire 25.79% of Kronox Lab Sciences via an Open Offer

Indo Borax and Chemicals Limited, alongside Promoter Actioning Company Zenrock Chemicals Private Limited, has launched an Open Offer to acquire shares from public shareholders of Kronox Lab Sciences Limited, a company listed on the BSE and NSE. This action follows a Share Purchase Agreement where Indo Borax will acquire a 74.21% stake from existing shareholders, triggering the Open Offer as a regulatory requirement. The Open Offer seeks to acquire 95,70,000 shares, representing 25.79% of the Voting Share Capital, and is not subject to a minimum acceptance level. A Detailed Public Statement, including the offer price, will be released within five working days, by August 28, 2026. IIFL Capital Services Limited is managing the Open Offer, which is compliant with SEBI (SAST) Regulations, and the Acquirer will ensure Kronox maintains the required minimum public shareholding.

News source: Capital Market - Live News