Zenrock Chemicals to Acquire 26.00% Stake in Indo Borax & Chemicals for INR 256.30 per Share

Zenrock Chemicals Private Limited, along with India Special Assets Fund III, ISAF II Onshore Fund, and Special Situation India Fund, has submitted a draft letter of offer to the public shareholders of Indo Borax & Chemicals Ltd for the acquisition of up to 83,43,400 fully paid-up equity shares, representing 26.00% of the voting share capital. The offer price is INR 256.30 per equity share, payable in cash. The offer is not conditional or subject to any minimum level of acceptance. The acquisition is not subject to any statutory or other approvals, but if any become applicable, the offer will be subject to their receipt. The offer may be withdrawn in accordance with the SEBI (SAST) Regulations. The offer price or the number of offer shares may be revised prior to the commencement of the last 1 (one) Working Day before the commencement of the Tendering Period.