Indo Borax to acquire 64.26% stake in Kronox Lab Sciences for ₹246.12 Cr

Indo Borax & Chemicals Ltd. has signed a Share Purchase Agreement to acquire a 64.26% stake in Vadodara-based speciality chemicals player Kronox Lab Sciences for ₹246.12 crore. The acquisition involves purchasing 2,38,44,000 equity shares of Kronox Lab Sciences at a face value of ₹10 each. Additionally, Indo Borax, along with its promoter Zenrock Chemicals Private Limited, will make an Open Offer to acquire up to 25.79% stake (95,70,000 equity shares) in Kronox Lab Sciences. The transaction is expected to be completed within three months. This strategic move aims to strengthen Indo Borax's offerings, leverage Kronox's export presence, and improve margins. The erstwhile promoters of Kronox will retain a 9.95% stake and provide transition support.