Kronox Lab Sciences

Kronox Lab Sciences became the subject of a mandatory open offer after Indo Borax and Chemicals and Zenrock Chemicals agreed to acquire 64.26% of the company from three existing promoters under a share purchase agreement dated 20 August 2026. The SPA covered 2.38 crore shares for ₹246.1 crore at ₹103.22 a share, while the buyers offered ₹157.27 a share for up to 95.7 lakh public shares, or 25.79% of voting capital, for a maximum ₹150.5 crore. If the offer was fully accepted, Indo Borax's holding would rise to 90.05% and it would become Kronox's promoter; the existing sellers would be reclassified as public shareholders, while the buyers said they did not intend to delist the company. Kronox had reported FY26 revenue of ₹101.2 crore and held ₹48.7 crore in cash and fixed deposits, with three Vadodara units providing stated capacity of 7,242 MTPA.

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Indo Borax & Chemicals agreed to acquire a 64.26% stake in Kronox Lab Sciences, the Vadodara-based speciality chemicals maker, under a share purchase agreement signed with Zenrock Chemicals and Kronox's promoters. Indo Borax's board also approved an open offer, with Zenrock acting in concert, for up to 95.70 lakh Kronox shares, or 25.79% of the company. Completion was indicated within three months of signing, while Kronox's existing promoters were to retain a 9.95% stake and provide transition support. Kronox operated three Vadodara units with stated capacity of 7,242 MTPA, sold more than 185 products, and reported FY26 revenue of about ₹101 crore and profit after tax of roughly ₹28 crore.

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Kronox Lab Sciences’ three promoters—Ketan Vinodchandra Ramani, Pritesh Vinodchandra Ramani and Jogindersingh Gianchand Jaswal—signed a share-purchase agreement on August 20 to sell 23.844m shares, representing 64.26% of the company, to Indo Borax & Chemicals and its concert party Zenrock Chemicals. The SPA price was ₹103.22 a share, implying consideration of about ₹246.1 crore, while the price including transition consultancy fees was ₹105.87 a share. The transaction was subject to conditions precedent and required the buyers to make a mandatory tender offer to public shareholders under takeover rules. On completion, the sellers were to relinquish control and be reclassified as public shareholders, while Indo Borax would become promoter, Zenrock promoter group and three nominee directors would join the board. Kronox had reported FY26 revenue from operations of about ₹101 crore and held cash and fixed deposits of ₹48.74 crore at year-end.

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** Shares of Indo Borax and Chemicals IBCH.NS jump 7.9% and shares Kronox Lab Sciences KROO.NS rise 14.4%

** Indo Borax to buy 64.26% stake of Kronox Lab for 2.46 bln rupees ($25.7 mln) from Kronox Lab promoters

** Plan to buy 64.26% stake in Kronox triggers mandatory open offer to public shareholders

** Open offer to acquire up to 9.6 mln shares, or 25.79% stake, in Kronox at 157.27 rupees/share

** KROO set to gain for fourth straight session

** YTD, IBCH up ~76% and KROO up ~27%

($1 = 95.6300 Indian rupees)

(Reporting by Vijay Malkar)

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Sept 23 (Reuters) - Kronox Lab Sciences Ltd KROO.NS:

• KRONOX LAB SCIENCES LTD - RECEIVES APPROVALS FOR UNIT-IV CONSTRUCTION AT DAHEJ

• KRONOX LAB SCIENCES LTD - RECEIVES ENVIRONMENTAL CLEARANCE FROM CENTRAL GOVERNMENT

Source text: ID:nBSEzS2gw

Further company coverage: KROO.NS

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July 25 (Reuters) - Kronox Lab Sciences Ltd KROO.NS:

• KRONOX LAB SCIENCES - RE-APPOINTMENT OF JOGINDERSINGH JASWAL AS CMD

Source text: ID:nNSE6fQSvN

Further company coverage: KROO.NS

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