Indo Borax Acquires 64.26% Stake in Kronox Lab Sciences for ₹246 Crore
Indo Borax & Chemicals Limited will acquire 64.26% stake in Kronox Lab Sciences for ₹246.11 crore. The company also announced a mandatory open offer for an additional 25.79% stake. This move aims to diversify Indo Borax's portfolio into specialty chemicals.
The acquisition represents a substantial financial commitment and a significant shift in the company's strategic direction, involving a large portion of another listed company's equity, which will have a material impact on Indo Borax's future operations and financial performance.
The acquisition of a significant stake in another company and the subsequent open offer are strategic moves indicating growth and expansion, which are generally viewed positively by the market.
Indo Borax & Chemicals Limited announced a significant acquisition following its board meeting held on August 20, 2026. The company has approved the execution of a share purchase agreement to acquire 2,38,44,000 equity shares of Kronox Lab Sciences Limited, representing 64.26% of the target company's share capital. This acquisition was made from the promoters of Kronox Lab Sciences Limited at a price of ₹103.22 per share, for an aggregate consideration of ₹246.11 crore. The transaction also includes ancillary agreements.
As a consequence of acquiring control and exceeding 25% voting rights in Kronox Lab Sciences Limited, Indo Borax & Chemicals Limited, along with Zenrock Chemicals Private Limited, will make a mandatory open offer to the public shareholders of Kronox Lab Sciences Limited. This open offer will be for up to 95,70,000 equity shares, approximately 25.79% of the voting share capital, at a price to be determined as per SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition is part of Indo Borax's long-term strategy to diversify its portfolio into sectors with stability and growth potential, aiming to nurture and expand Kronox Lab Sciences' business.
Kronox Lab Sciences Limited is engaged in manufacturing high purity specialty fine chemicals and has a paid-up share capital of ₹37.10 crore. For the financial year 2025-26, its turnover was ₹101.22 crore. The company is listed on both NSE and BSE. The acquisition is expected to be completed within three months of the public announcement. The board meeting commenced at 10:00 AM and concluded at 11:50 AM on August 20, 2026.
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Indo Borax & Chemicals Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Indo Borax & Chemicals Limited. Read the original for the full detail.