Indo Borax Approves Kronox Lab Stake Purchase; Shares Rise 7.44%

Mumbai August, 20: Indo Borax & Chemicals Limited’s Board has approved the acquisition of a 64.26% stake in Kronox Lab Sciences Limited for an aggregate consideration of ₹246.12 crore.

According to an exchange filing dated August 20, 2026, the Board approved the execution of a Share Purchase Agreement with the sellers, who include Kronox Lab Sciences’ promoters, along with Zenrock Chemicals Private Limited.

The transaction involves the purchase of 2,38,44,000 equity shares of Kronox Lab Sciences at ₹103.22 per share. The shares represent 64.26% of the target company’s share capital, with the total consideration amounting to ₹246,11,77,680.

The sellers named in the disclosure are Ketan Vinodchandra Ramani, Pritesh Vinodchandra Ramani and Jogindersingh Gianchand Jaswal, collectively along with Zenrock Chemicals Private Limited. The Board also approved ancillary transaction documents connected with the SPA.

Stock Market Snapshot

The Indo Borax share price moved sharply higher after the company disclosed the proposed acquisition.

As of 12:45:46 PM IST on August 20, 2026, Indo Borax shares were trading at ₹466.15, up ₹32.30 or 7.44%, according to the market data provided.

The stock had remained broadly range-bound during the morning session before moving higher around 11:30 AM. It subsequently reached levels above ₹490 before easing to ₹466.15 by the reported timestamp.

The sharp share-price movement followed the disclosure of the sizeable acquisition of Kronox Lab Sciences, although the filing itself does not provide any forward earnings guidance or quantify the financial contribution expected from the transaction.

Kronox Lab Sciences Operates In Specialty Chemicals And Laboratory Reagents

Kronox Lab Sciences is engaged in the manufacture and marketing of specialty chemicals and laboratory reagents, according to the transaction disclosure.

Its products serve multiple end-use sectors, including pharmaceuticals, personal care, food and beverages, agrochemicals, research and academic institutions. The acquisition therefore gives Indo Borax exposure to a business operating across specialty chemical and laboratory-related applications.

The transaction remains subject to the terms and conditions specified in the Share Purchase Agreement.

Conclusion

Indo Borax’s Board has approved the acquisition of 2.38 crore equity shares, equivalent to a 64.26% stake, in Kronox Lab Sciences for approximately ₹246.12 crore.

The company will acquire the shares from Kronox Lab Sciences’ promoters and Zenrock Chemicals under the approved SPA. Indo Borax shares were trading at ₹466.15, up 7.44% as of 12:45:46 PM IST on August 20, 2026, according to the market data provided.

Source:

• https://www.nseindia.com/get-quote/equity/INDOBORAX/Indo-Borax-&-Chemicals-Limited
• https://nsearchives.nseindia.com/corporate/INDOBORAX_20082026121658_Final_outcome_HO.pdf