Mumbai, August 21: Shares of industrial chemical manufacturer Indo Borax and Chemicals Limited have surged more than 5% from Thursday, August 20, after its board approved the acquisition of 64.26% in specialty fine chemical maker Kronox Lab Sciences Limited.
“The Board of Directors of Indo Borax & Chemicals Limited at its meeting held today, August 20, 2026, has approved the acquisition of 2,38,44,000 equity shares representing 64.26% of the paid-up share capital of Kronox Lab Sciences Limited for an aggregate consideration of ₹2,46,11,77,680 from the sellers,” Indo Borax said in a press release.
Following the news, Vadodara-based Kronox Lab Sciences hit its 20% upper circuit limit while Indo Borax’s shares also rose to ₹32.30, or 7.44%. Prior to that, the stock had remained broadly range-bound before the news broke at about 12:45 PM on August 20.
For Indo Borax, this acquisition is expected to help it expand its operational footprint in the high purity specialty chemicals sector, catering o the pharmaceutical, FMCG, personal care, food and beverage and other allied applications from its core industrial chemical portfolio.
“The acquisition of Kronox Lab Sciences is a strategic move towards furthering our stated objectives. Kronox’s rich experience and export presence will strengthen our offerings, and the synergies will help us fortify our margins going forward. We look forward to working with the team at Kronox towards a promising journey ahead.” Suresh Kalra, Managing Director and CEO, Indo Borax Chemicals Ltd., said in a regulatory filing.
“Joining hands with Indo Borax would enable Kronox to accelerate its growth plans, expand its product profile, and explore new avenues. We look forward to working with Team Indo Borax and Zenrock Chemicals, and providing transition support post-acquisition.” Ketan Ramani, Promoter and Director, Kronox Lab Sciences Ltd, added.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in stocks includes financial risks, and past performance is not indicative of future results. Readers should conduct their own research or consult with a qualified financial advisor before making any investment decisions.
