India's Indo Borax up after plan to buy stake in Kronox Lab

Kronox Lab Sciences

20/08/2026 08:21

** Shares of Indo Borax and Chemicals IBCH.NS jump 7.9% and shares Kronox Lab Sciences KROO.NS rise 14.4%
** Indo Borax to buy 64.26% stake of Kronox Lab for 2.46 bln rupees ($25.7 mln) from Kronox Lab promoters
** Plan to buy 64.26% stake in Kronox triggers mandatory open offer to public shareholders
** Open offer to acquire up to 9.6 mln shares, or 25.79% stake, in Kronox at 157.27 rupees/share
** KROO set to gain for fourth straight session
** YTD, IBCH up ~76% and KROO up ~27%

($1 = 95.6300 Indian rupees)

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))