Indo Borax & Chem.

India Ratings placed Indo Borax & Chemicals' ₹60 crore bank-loan facilities on Rating Watch with Negative Implications, while retaining the long-term rating at IND BBB+ and the short-term rating at IND A2+. The action followed the proposed acquisition of a 64.26% stake in Kronox Lab Sciences and a related open offer for up to 25.79%. Indo Borax planned to fund about ₹225 crore of the acquisition through borrowing, for which sanction had not yet been obtained. The company had no standalone debt at the end of FY26, when revenue was ₹215.45 crore and cash and equivalents were about ₹263.8 crore.

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Indo Borax agreed to acquire a 64.26% stake in Kronox Lab Sciences for ₹246.12 crore under a share purchase agreement signed with Zenrock Chemicals and Kronox’s promoters. Its board also approved an open offer alongside Zenrock, acting as a person acting in concert, for up to 25.79% of Kronox; the sellers were to retain 9.95% and provide transition support. Kronox reported FY26 revenue of about ₹101 crore and profit after tax of roughly ₹28 crore from more than 185 speciality fine chemicals. Indo Borax reported FY26 revenue of ₹215.45 crore and PAT of ₹50.27 crore, after Zenrock’s promoter group took charge of the company in January 2026.

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Indo Borax & Chemicals approved the execution of an agreement to acquire 64.26% of Kronox Lab Sciences from its promoters for ₹246.12 crore in cash, at ₹103.22 a share. It also approved a mandatory open offer for up to 25.79% of Kronox at ₹157.27 a share, implying maximum additional consideration of about ₹150.5 crore. Kronox manufactures high-purity specialty fine chemicals and reported FY26 turnover of ₹101.22 crore, compared with Indo Borax’s FY26 revenue of ₹215.45 crore. Indo Borax’s product mix remained concentrated in boric acid, which accounted for about 85-90% of sales, while Zenrock Chemicals had become its controlling shareholder after completing a 50.8% stake acquisition in January 2026.

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Indo Borax & Chemicals approved execution of a share purchase agreement to acquire 64.26% of listed Kronox Lab Sciences for ₹246.12 crore in cash from its promoters. Kronox manufactures high-purity specialty fine chemicals for diversified end-user industries and reported FY26 turnover of ₹101.22 crore. The board also approved a mandatory open offer for up to 25.79% of Kronox at ₹157.27 per share, involving a further ₹150.5 crore if fully accepted. Boric acid accounted for roughly 85-90% of Indo Borax’s sales, while its FY26 revenue was ₹215.45 crore.

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Aug 20 (Reuters) - Indo Borax and Chemicals Ltd IBCH.NS:

• TO BUY 64.26% STAKE OF KRONOX LAB FOR 2.46 BILLION RUPEES AT 103.22 RUPEES PER SHARE

• OPEN OFFER FOR KRONOX LAB SHARES AT 157.27 RUPEES PER SHARE

• OPEN OFFER FOR UP TO 25.79% STAKE OF KRONOX LAB SCIENCES APPROVED

Source text: ID:nBSE89prx3

Further company coverage: IBCH.NS

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Feb 25 (Reuters) - Indo Borax and Chemicals Ltd IBCH.NS:

• APPOINTS SHASHIKANT BHARUKA AS CFO

Source text: ID:nBSE8hFz6X

Further company coverage: IBCH.NS

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Jan 23 (Reuters) - Indo Borax and Chemicals Ltd IBCH.NS:

• SAJAL JAIN RESIGNS AS MANAGING DIRECTOR

• CEO SAUMYA SAJAL JAIN RESIGNS

Source text: ID:nBSE2VntZc

Further company coverage: IBCH.NS

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Oct 14 (Reuters) - Indo Borax and Chemicals Ltd IBCH.NS:

• PITHAMPUR PLANT SHUTDOWN FOR MAINTENANCE

Source text: ID:nBSE7pxgcd

Further company coverage: IBCH.NS

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July 21 (Reuters) - Indo Borax and Chemicals Ltd IBCH.NS:

• BOARD APPROVES SALE OF PROPERTIES AND VEHICLES

• AGGREGATE SALE CONSIDERATION TOTALS 620.2 MILLION RUPEES

Source text: ID:nNSE3WHrsR

Further company coverage: IBCH.NS

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** Shares of Indo Borax and Chemicals IBCH.NS jump 4.8% to 205.94 rupees apiece, a six-month high

** The boron and lithium products maker gets a customs demand reprieve worth 105.7 million rupees from the Office of the Commissioner of Customs in Mumbai, post market hours on Friday

** On Monday, IBCH announces it will launch a high-value boron oxide product in July 2025

** IBCH says it is setting up manufacturing facilities with a capex outlay of 200 million rupees at its Pithampur plant in Indore, Madhya Pradesh

** IBCH also aims to add 4000 million tonnes per annum in additional capacity from the plant within a year

** Trading volume is 150,176 shares as of 1:11 p.m. IST, 2.5times the 30-day average, data compiled by LSEG shows

** Stock up 9.5% in 2025, so far including today's gains exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

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June 6 (Reuters) - Indo Borax and Chemicals Ltd IBCH.NS:

• CUSTOM DEPARTMENT DROPS DEMAND NOTICE OF 105.7 MILLION RUPEES

Source text: ID:nBSE3cXKdH

Further company coverage: IBCH.NS

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Nov 13 (Reuters) - Indo Borax and Chemicals Ltd IBCH.NS:

• CO RECEIVED CONSENT TO OPERATE PERMISSION FROM MADHYA PRADESH FOR NEW PLANT

Source text for Eikon: ID:nBSE4cMy5g

Further company coverage: IBCH.NS

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