Indo Borax & Chemicals524342Promoter pledge update
Pledge created over ~51.95 lakh shares of subsidiary Kronox Lab Sciences
A pledge has been created over ~51.95 lakh equity shares of Kronox Lab Sciences Ltd, the subsidiary, representing approximately 14 % of Kronox's paid-up equity share capital.
By ScoutQuest · · 2 min read
- Shares pledged
- ~51.95 lakh equity shares of Kronox Lab Sciences Ltd, ~14 % of Kronox's paid-up equity share capital
- Term loan secured by pledge
- ~225 crores
- Shareholding in Kronox
- ~2.38 crore shares or 64.26%
What was disclosed
- On October 19, 2026, the company created a pledge over ~51.95 lakh equity shares of Kronox Lab Sciences Limited.
- The pledge is in favour of a lender.
- These shares represent approximately 14 % of the paid-up equity share capital of Kronox.
Where the holding stands
- The company holds ~2.38 crore equity shares of Kronox, representing 64.26% of its paid-up equity share capital.
- The company states that the creation of the pledge does not result in any change in the shareholding or control it has in Kronox, and that Kronox continues to remain a subsidiary of the company.
Why the pledge was created
- The pledge has been created as security in connection with a term loan facility of ~225 crores availed by the company from the lender.
- That loan is towards financing the acquisition of equity shares of Kronox.
How to read it
- A pledge means the shares are held as collateral for a borrowing. The company continues to own the shares and vote them, but the lender has a claim on them if the borrowing is not serviced as agreed.
- Only a part of the stake is involved: approximately 14 % of Kronox's capital is pledged, against a total holding of 64.26%.
- The borrowing behind the pledge is linked to buying the Kronox stake itself, so the loan and the shares are connected to the same transaction.
- Because control and shareholding are stated to be unchanged, the immediate effect is on how the shares are held (encumbered), not on who controls Kronox.
Points a retail investor may want to track
- Any future creation or release of encumbrance on Kronox shares held by the company.
- Any change in the term loan facility of ~225 crores that this pledge secures.
- Any change in the company's ~2.38 crore share holding, or 64.26%, in Kronox.
Also from Indo Borax & Chemicals
Share purchase agreement amended: lock-in and right of first refusal deleted for 9.95% stake
23 Oct 2026
Indo Borax completes acquisition of 64.26% stake in Kronox Lab Sciences, appoints Suresh Kalra as MD & CEO
1 Oct 2026
Completion of acquisition of 64.26% stake in Kronox Lab Sciences
29 Sep 2026
More numbers
- Shares held by the company in Kronox2,38,44,000
- Company's stake in Kronox paid-up equity capital64.26%
- Kronox shares pledged51,94,560
- Pledged shares as share of Kronox paid-up capitalapproximately 14 %
- Term loan facility secured by the pledge~225 crores
Source: BSE · 19 Oct 2026
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