Indo Borax to acquire 64.26% stake in Kronox Lab Sciences

Indo Borax and Chemicals Ltd, along with Zenrock Chemicals Private Limited, has signed a Share Purchase Agreement to acquire a 64.26% stake in Kronox Lab Sciences for ₹246.12 crore. The deal involves the acquisition of 2,38,44,000 equity shares of Kronox Lab Sciences. Additionally, Indo Borax's board has approved an Open Offer, with Zenrock Chemicals, to acquire up to 95,70,000 equity shares, representing a 25.79% stake. The acquisition is expected to be completed within three months. Post-acquisition, the promoters of Kronox Lab Sciences will retain a 9.95% stake and provide transition support. This strategic move aims to enhance Indo Borax's offerings through synergies and expansion.