# Kronox Lab Sciences promoters sell 64.26% stake for Rs 246 crore 2026-08-20T23:03:42+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet Vadodara-based speciality chemicals company Kronox Lab Sciences Ltd, which listed on stock exchanges in 2024, is changing hands. Its three promoters will sell 64.26 per cent stake to Mumbai-based Indo Borax & Chemicals Ltd for Rs 246 crore, and retain 9.95 per cent. The deal triggers a mandatory open offer for up to 25.79 per cent from public shareholders at Rs 103.22 per share. Kronox makes high-purity speciality fine chemicals used in pharma, nutraceuticals, biotech and other sectors. It reported revenue of around Rs 101 crore and profit after tax of about Rs 28 crore in FY26. Indo Borax managing director Suresh Kalra said the acquisition will help the acquirer diversify beyond its core boron-based chemicals business and improve margins. The founders will provide transition support under consultancy agreements after the transaction closes. ## Indian Opinion Analysis This is a rare instance of a company changing control barely two years after its IPO, suggesting the promoters saw a strategic fit or valuation opportunity they could not realise alone. The open offer at Rs 103.22 per share will test whether minority investors who bought in during the 2024 listing see value in exiting or staying with the new promoter. For Indo Borax, the deal buys not just a listed entity but a product portfolio of 185-plus items and export channels that would take years to build organically. Watch for the open offer subscription level and any shareholder activism on price. ## Coverage - thehindubusinessline.com Straight business-news reporting with financial details, regulatory triggers and direct quotes from both sides, no evaluative language. This story was synthesised by AI from the source linked above. Tags: Gujarat, Indo Borax & Chemicals, Kronox Lab Sciences, open offer Canonical: https://indianopinion.org/kronox-lab-sciences-promoters-sell-64-26-stake-for-rs-246-crore/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/kronox-lab-sciences-promoters-sell-64-26-stake-for-rs-246-crore/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes. How this brief was made: an AI model read the report linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/