Indo Borax to Acquire 64.26% Stake in Kronox Lab Sciences for ₹246.12 Cr

Indo Borax & Chemicals Ltd announced its Board of Directors has approved the acquisition of 2,38,44,000 equity shares, representing 64.26% of Kronox Lab Sciences Limited, from its promoters for an aggregate consideration of ₹246.12 crore. The acquisition price per share is ₹103.22. Concurrently, Indo Borax and Zenrock Chemicals Private Limited will make a mandatory open offer to the public shareholders of Kronox Lab Sciences Limited for up to 95,70,000 equity shares, approximately 25.79% of the voting share capital, at a price to be determined per SEBI regulations. This move signifies a significant strategic expansion for Indo Borax.