Summary of Key Information:
Reporting Period (Quarter/Year): Not Specified
Nature of Filing / Announcement: Acquisition and Open Offer Announcement
Corporate Actions:
Acquisition Details:
- Approved execution of Share Purchase Agreement (SPA) with Zenrock Chemicals Private Limited (ZCPL) and sellers
- Acquisition of 2,38,44,000 equity shares (64.26% stake) in Kronox Lab Sciences Limited
- Face value: ₹10.00 per share
- Purchase price: ₹103.22 per share
- Aggregate consideration: ₹246,11,77,680.00 (Two Hundred Forty-Six Crores Eleven Lakhs Seventy-Seven Thousand Six Hundred Eighty)
- Effective price including consultancy fees: ₹105.87 per share as per SAST Regulations
- Sellers: Mr. Ketan Vinodchandra Ramani, Mr. Pritesh Vinodchandra Ramani, and Mr. Jogindersingh Gianchand Jaswal
Open Offer Details:
- Mandatory open offer for up to 95,70,000 equity shares (25.79% of voting share capital)
- Offer price: ₹157.27 per share as determined under SAST Regulations
- Company will act in concert with ZCPL for the open offer
- Completion timeframe: Within 3 months of public announcement
Other Significant Information:
Target Company Background:
- Name: Kronox Lab Sciences Limited
- Business: Manufacturing high purity specialty fine chemicals for diversified end-user industries
- Listed on NSE (Symbol: KRONOX) and BSE (Scrip Code: 544187)
Financial Performance of Target Company:
- March 31, 2026 Turnover: ₹101,21,98,447
- March 31, 2025 Turnover: ₹100,19,39,040
- March 31, 2024 Turnover: ₹89,86,23,996
Strategic Rationale:
- Long-term strategy to diversify company portfolio
- Investment in sectors demonstrating stability and growth potential
- Intention to nurture and expand Target Company's business
- Maximizing value creation for all stakeholders