Open offer at ₹157.27 per share for up to 25.79% of voting capital
Indo Borax and Chemicals, with Zenrock Chemicals as PAC, has made a cash open offer for up to 95,70,000 shares of Kronox Lab Sciences at ₹157.27 each, equal to 25.79% of voting capital.
By ScoutQuest · · 2 min read
- Offer Price per Share
- ₹157.27
- Offer Size
- up to 95,70,000 shares, equal to 25.79% of voting capital
- Tendering Period
- November 6, 2026 to November 20, 2026; escrow amount INR 1,50,50,73,900
What the offer says
Indo Borax and Chemicals Limited, together with Zenrock Chemicals Private Limited as the person acting in concert, has made a cash open offer to the public shareholders of Kronox Lab Sciences Limited. The offer is to acquire up to 95,70,000 fully paid equity shares of face value ₹10.00 each at ₹157.27 per share. This represents 25.79% of the voting share capital.
- The offer is not conditional and is not subject to any minimum level of acceptance.
- IIFL Capital Services Limited is the manager to the open offer.
Schedule
The tendering period is scheduled to open on Friday, November 6, 2026 and close on Friday, November 20, 2026. The last date for communicating acceptance or rejection and completing payment or refund is Monday, December 7, 2026. The independent directors' committee recommendation and the last date for upward revision of the offer price or offer size are both Wednesday, November 4, 2026. The opening public announcement is scheduled for Thursday, November 5, 2026.
Price and escrow
The offer price is ₹157.27 per equity share, payable in cash. The escrow amount is INR 1,50,50,73,900. The update sets out that the offer price may be revised upward in accordance with the SEBI (SAST) Regulations, and the schedule gives November 4, 2026 as the last date for such revision.
Shareholding context
Following the underlying transaction, the acquirer has become the promoter and the PAC has become the promoter group. The sellers collectively hold 36,90,000 equity shares, or 9.95% of the voting share capital, and were reclassified to the public category with effect from September 29, 2026. The definitions section lists a consultancy fee payable by the target company to the sellers aggregating ₹6,30,00,000.
For tendering shareholders
- Shares tendered in the offer cannot be withdrawn by public shareholders, even if acceptance or payment is delayed.
- A lien is marked on tendered shares; shares not accepted are released.
- The update sets out limited circumstances in which the acquirer and PAC may withdraw the offer under the SEBI (SAST) Regulations.
- The update notes that accepted shares may be subject to capital gains tax and securities transaction tax, and advises shareholders to consult their own tax advisors.
Also from Kronox Lab Sciences
Board meeting on November 05, 2026 to consider and approve September quarter results
30 Oct 2026
Share purchase agreement amended; lock-in and right of first refusal on sellers' shares deleted
23 Oct 2026
Board approves acquisition of about 5000 Sq. meters plant in Dahej SEZ from Axiom Chemicals
14 Oct 2026
More numbers
- Offer price per equity share₹157.27
- Offer size in shares95,70,000
- Offer size as % of voting share capital25.79%
- Face value per equity share₹10.00
- Escrow amountINR 1,50,50,73,900
- Sellers' holding in shares36,90,000
- Sellers' holding as % of voting share capital9.95%
- Consultancy fee payable to sellers₹6,30,00,000
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