Indo Borax & Chemicals Limited — Important, 15-12-2025: Disclosure of material issue

**Indo Borax (INDOBORAX) Update:**

**The Issue:** Zenrock Chemicals Private Limited (Acquirer) and a group of funds (PACs) are acquiring a controlling 50.80% stake (1.63 Cr shares) in Indo Borax from its current promoters at ₹256.30 per share. This deal is valued at 417.77 Cr and triggers a mandatory open offer for public shareholders.

**What it Means for Investors:**

* **New Control:** Zenrock Chemicals will assume sole control of Indo Borax & Chemicals and become its new promoter. The previous promoters are selling their stake and exiting the promoter group.

* **Open Offer Opportunity:** Public shareholders have an opportunity to tender up to 83.43 lakh shares (representing 26% of the company's voting capital) in the open offer. The offer price is ₹256.30 per share, matching the acquisition price. The total consideration for this open offer would be 213.84 Cr if fully accepted.

* **Company's Future:** The Acquirer does not intend to delist Indo Borax. If the public shareholding falls below the minimum required 25% due to these transactions, the Acquirer has committed to taking necessary steps to restore compliance with listing regulations.

* **Financing:** The Acquirer has secured financing totaling 390 Cr through debentures and 75 Cr through compulsorily convertible preference shares from the PACs to fund both the acquisition and the open offer.

**Company's Role:** Indo Borax & Chemicals is informing the stock exchanges about this significant change in ownership and the resulting open offer as required.