Indo Borax Acquires 64.26% Stake in Kronox Lab Sciences

Indo Borax & Chemicals’ Board of Directors has formally approved the acquisition of a 64.26% equity stake in Kronox Lab Sciences Limited. This significant transaction, valued at an aggregate consideration of Rs 246,11,77,680.00, was decided during a board meeting convened on Thursday, August 20, 2026.

The strategic acquisition was finalized through the execution of a Share Purchase Agreement (SPA). This agreement specifies the terms for purchasing a majority shareholding in Kronox Lab Sciences Limited, a move that will integrate a significant portion of the target company into Indo Borax & Chemicals’ portfolio.

Transaction Highlights

• Target Company: Kronox Lab Sciences Limited
• Stake Acquired: 64.26% of share capital
• Total Equity Shares: 2,38,44,000 shares
• Face Value per Share: Rs 10.00
• Acquisition Price per Share: Rs 103.22
• Aggregate Consideration: Rs 246,11,77,680.00

The Share Purchase Agreement outlines the key entities and individuals involved in this substantial corporate transaction.

Parties to the Agreement

• Acquiring Entity: Indo Borax & Chemicals
• Other Party to SPA: Zenrock Chemicals Private Limited (ZCPL)
• Sellers (Promoters of Kronox Lab Sciences): Ketan Vinodchandra Ramani, Pritesh Vinodchandra Ramani, and Jogindersingh Gianchand Jaswal

The completion of this SPA transaction remains contingent upon the fulfillment of various terms and conditions as stipulated within the agreement itself. Indo Borax & Chemicals formally communicated these developments as part of its mandatory regulatory filings submitted to the BSE.