Loan & Debt11 Nov 2026, 12:15 pm
Kronox Lab Promoter Encumbers 14% Shares for ₹225 Cr Term Loan
AI Summary
Kronox Lab Sciences Ltd announced that its promoter, Indo Borax & Chemicals Limited, has encumbered 51,94,560 shares, representing 14% of the total share capital. This encumbrance, created on November 3, 2026, is a pledge made as security for a term loan facility of approximately ₹2,25,00,00,000 (₹225 Crore) availed by the company from Poonawalla Fincorp Ltd. The loan proceeds are intended for financing the acquisition of equity shares of Kronox Lab Sciences Limited. The value of the encumbered shares on the date of the event was ₹1,03,52,75,808 (₹103.53 Crore).
Key Highlights
- Promoter Indo Borax & Chemicals encumbered 14% of Kronox Lab shares.
- Encumbrance is a pledge for a ₹225 Crore term loan.
- Loan is from Poonawalla Fincorp Ltd.
- Funds will finance acquisition of Kronox Lab shares.
- Pledged shares valued at ₹103.53 Crore on event date.
Price Impact
More from KRONOX