Borax and Chemicals Ltd promoters executed a Share Purchase Agreement with Zenrock Chemicals for 50.80% equity sale, paving way for ownership transition. This strategic divestment values the boron specialist amid stable operations and chemical sector consolidation.
Borax and Chemicals Ltd, a Gujarat-based boron chemicals leader, saw its promoters sign a definitive Share Purchase Agreement (SPA) with Zenrock Chemicals Pvt Ltd for offloading 50.80% equity stake. The transaction, disclosed via BSE on December 15, 2025, marks a pivotal ownership shift for the firm known for borax decahydrate, boric acid, and specialty derivatives serving glass, ceramics, and agrochemicals.
Deal Dynamics:
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Covers majority control at 50.80%, subject to regulatory approvals including CCI clearance and standard closings.
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Zenrock, expanding in industrial chemicals, gains foothold in boron niche with Borax's 40+ year legacy and export focus.
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No immediate operational changes; promoters retain minority influence during transition.
This aligns with sector M&A trends, positioning Zenrock for growth amid global boron demand surge.
Sources: BSE Announcements, KECRPG filings