Zenrock Chemicals Private Limited, along with three Persons Acting in Concert (PACs), is making an open offer to acquire up to 83,43,400 equity shares (26.00%) of Indo Borax & Chemicals Limited from public shareholders at ₹256.30 per share.
The Committee of Independent Directors of Indo Borax has deemed the offer price fair and reasonable, noting it is higher than the 60-day volume weighted average price and equal to the highest negotiated price.
The underlying transaction, involving the acquisition of a 50.80% controlling stake from the erstwhile promoters, was completed on January 23, 2026, resulting in Zenrock being classified as the new promoter.
The tendering period for the open offer commences on April 10, 2026, and closes on April 24, 2026, with settlement to be completed by May 11, 2026.