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The latest announcement is out from Indo Borax & Chemicals Limited ( (IN:INDOBORAX) ).
Indo Borax & Chemicals Limited has completed the transfer of 1.63 crore equity shares, representing 50.80% of its paid-up equity capital, from the erstwhile promoter group led by members of the Jain family to Zenrock Chemicals Private Limited and associated funds, giving the acquirer control of the company and status as its new promoter. Following this change of control, the former promoters and their related persons, who now hold no shares, have requested and met conditions for declassification from promoter status under SEBI Listing Regulations, while an open offer is underway for up to 26% of the company’s voting share capital from public shareholders, signalling a significant shift in ownership structure and governance that could reshape strategic direction and stakeholder dynamics.
More about Indo Borax & Chemicals Limited
Indo Borax & Chemicals Limited is an Indian chemical manufacturer focused on boron-based products and related specialty chemicals, serving industrial customers from its base in Mumbai and operating as a listed company on both the BSE and NSE.
Average Trading Volume: 6,912
Technical Sentiment Signal: Buy
Current Market Cap: 7.81B INR
For a thorough assessment of INDOBORAX stock, go to TipRanks’ Stock Analysis page.