Indo Borax acquires 64.26% stake from promoters at Rs. 103.22 per share under SPA

Control change: Indo Borax & Chemicals Limited has acquired 2,38,44,000 equity shares of Kronox Lab Sciences, equal to 64.26% of total share capital.

Wed 30 Sep 2026

Acquirer

Indo Borax & Chemicals Limited

Shares Acquired

2,38,44,000 equity shares

Stake Percentage

64.26% of total share capital

Purchase Price Per Share

Rs. 103.22

Acquisition Date

September 29, 2026

What was shared

This is a disclosure under Regulation 18(6) of the SEBI (SAST) Regulations, 2011, made by the acquirer for shares acquired during the offer period in Kronox Lab Sciences Limited (the target company).

The transaction

• Acquirer: Indo Borax & Chemicals Limited; PAC: Zenrock Chemicals Private Limited.
• Shares acquired: 2,38,44,000 equity shares of face value INR 10/- each.
• That is 64.26% of the total share capital of the target company.
• Mode: Off Market, pursuant to the Share Purchase Agreement dated August 20, 2026.
• Date of acquisition: September 29, 2026.
• Purchase price per share: 103.22 (INR).

Sellers

• Ketan Vinodchandra Ramani — 85,66,400 shares
• Pritesh Vinodchandra Ramani — 67,11,200 shares
• Jogindersingh Gianchand Jaswal — 85,66,400 shares

Shareholding movement

• Acquirer and PAC together held Nil before the acquisition.
• After the acquisition they hold 2,38,44,000 shares, or 64.26% of total share capital.

How to read this

A majority block has moved from the earlier promoter group to a new corporate acquirer. The update notes that details of the acquirer and PAC were disclosed in the detailed public statement published on August 28, 2026 in Financial Express (all editions), Jansatta (all editions), Navshakti (Mumbai edition) and Loksatta-Jansatta (Vadodara edition), which is the process followed for an open offer. Investors commonly watch such changes for their effect on management, board composition and future business direction.

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