🔄 Control change at Indo Borax & Chemicals
👉🏻 Promoters sign SPA to sell 50.80% stake (1.63 crore shares)
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#Buyers: Zenrock Chemicals Pvt Ltd, India Special Assets Fund III, ISAF III Onshore Fund & Special Situation India Fund
👉🏻 Transaction triggers mandatory open offer for additional 26% under SEBI SAST rules
👉🏻 Post completion, existing promoters to exit control and be reclassified
👉🏻 Acquirer to appoint 3 nominee directors; existing promoter directors to resign
#IndoBorax #ChangeInControl #OpenOffer #SEBI