Outcome of Board Meeting

® INDO BORAX & CHEMICALS LTD. Regd. Office : 506, 5th Floor, Tulsiani Chambers, Free Press Journal Marg, Nariman Point, Mumbai - 400021, India. Ph.: 022 35218591 @ CIN : [24100MH1980PLC023177 Email : info@indoborax.com @ Website : www.indoborax.com Date: August 20, 2026 To, To, BSE Limited, National Stock Exchange of India Ltd, | Corporate Relationship Department, Listing Department, Phiroze Jeejeebhoy Towers, Exchange Plaza, | Dalal Street, Fort, Bandra-Kurla Complex, Mumbai — 400 001 Bandra (East), Mumbai- 400 051 | Stock Code: 524342 Stock Code: INDOBORAX Dear Sir / Ma'am, Sub: Outcome of Meeting of the board of directors (“Board”) of Indo Borax & Chemicals Limited (the “Company”) held today i.e. Thursday, August 20, 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that the Board of Directors of the Company (“Board”), at its meeting held today, i.e. Thursday, August 20, 2026, has inter adlia, considered and approved the following matters: 1. Acquisition of equity shares of Kronox Lab Sciences Limited The Board approved the execution of a share purchase agreement (“SPA”) by and amongst the Company, the Sellers (defined below) and Zenrock Chemicals Private Limited (“ZCPL”) for the acquisition of 2,38,44,000 (two crore thirty-eight lakh forty-four thousand) equity shares (“Sale Shares”) of face value of X10.00 (Indian Rupees Ten only) each of Kronox Lab Sciences Limited (“Target Company”), representing 64.26% (sixty four point two six per cent) of the share capital of the Target Company, from the promoters of the Target Company, namely, Mr. Ketan Vinodchandra Ramani, Mr. Pritesh Vinodchandra Ramani and Mr. Jogindersingh Gianchand Jaswal (collectively, the “Sellers”) by the Company, at a price of X103.22" (Indian Rupees One Hundred and Three point Two Two only) per Sale Share, for an aggregate consideration of %246,11,77,680.00 (Indian Rupees Two Hundred and Forty-Six Crores Eleven Lakhs Seventy-Seven Thousand Six Hundred and Eighty only), subject to the terms and conditions as set outin the SPA (“SPA Transaction”). The Board also approved the execution of ancillary transaction documents in connection with the SPA Transaction. 1 The price of %103.22 per Sale Share is the price payable under the SPA. However, the per Sale Share price inclusive of the consultancy fees payable by the Target Company to each of the Sellers pursuant to the transition support consultancy arrangements (considered in accordance with Regulation 8(7) of the SAST Regulations is 105.87 (Indian Rupees cne hundred five point eight seven only) per Sale Share. ® INDO BORAX & CHEMICALS LTD. Regd. Office : 506, 5th Floor, Tulsiani Chambers, Free Press Journal Marg, Nariman Point, Mumbai - 400021, India. Ph.: 022 35218591 @ CIN : L24100MH1980PLC023177 Email : info@indoborax.com @ Websi: tweww .indoborax.com 2. Consequential Open Offer Since, pursuant to consummation of the SPA Transaction, the Company shall acquire control and voting rights in excess of 25% (twenty five per cent) of the voting share capital of the Target Company, the Company along with ZCPL in its capacity as persons acting in concert with the Acquirer, shall make a mandatory open offer (“Open Offer”) to the public shareholders of the Target Company in accordance with the applicable provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended (“SAST Regulations”). Accordingly, the Board approved making of the Open Offer along with ZCPL in its capacity as persons acting in concert with the Acquirer for acquisition of up to 95,70,000 (ninety-five lakh seventy thousand) equity shares of the Target Company, representing approximately 25.79% (twenty five point seven nine per cent) of the voting share capital of the Target Company, at such offer price as may be determined in accordance with the SAST Regulations. The Company shall undertake the Open Offer process and make the necessary public announcements, filings and disclosures in accordance with the applicable provisions of the SAST Regulations. The details as required under Regulation 30 read with Schedule IIl of the Listing Regulations are enclosed as Annexure A. The meeting commenced at 10.00 A.M. and concluded at 11.50 A.M. For Indo Borax & Chemicals Limited Pravin Chavan Company Secretary and Compliance Officer Membership No.: A16857 Date: 20" August, 2026 Place: Mumbai % INDO BORAX & CHEMICALS LTD. Regd. Office : 506, 5th Floor, Tulsiani Chambers, Free Press Journal Marg, Nariman Point, Mumbai - 400021, India Ph.: 022 35218591 @ CIN : [.24100MH1980PLC023177 Email : info@indoborax.com @ Website : www.indoborax.com Annexure A Disclosure of information pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026 Particulars |[Details Name of the target entity, details in brief Name of the target entity: Kronox lab Sciences such as size, turnover etc. Limited (“Target Company”) Authorised Share Capital: ¥54,00,00,000 Paid up Share Capital: X37,10,40,000 Turnover (FY 25-26): 31,01,21,98,447 Whethetrhe acquisition would fall within No, the transaction is not a related party transaction related party transaction(s) and whether and none of the promoter/ promoter group/ group the promoter/ promoter group/ group companies have any interest in the entity being companies have any interest in the entity acquired. being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” Industry to which the entity being The Target Company is engaged in the business of acquired belongs manufacturing high purity specialty fine chemicals for diversified end-user industries. Objects and impact of acquisition The acquisition is intended with a long-term strategy (including but not limited to, disclosure of of diversifying the Company’s portfolio while reasons for acquisition of target entity, if investing in sectors that demonstrate both stability its business is outside the main line of and growth potential with further intention is to business of the listed entity) nurture and expand the Target Company’s business and maximizing value creation for all stakeholders. Brief details of any governmental or None. regulatory approvals required for the acquisition Indicative time period for completion of Within 3 (three) months of public announcement. the acquisition ® INDO BORAX & CHEMICALS LTD. Regd. Office : 506, 5th Floor, Tulsiani Chambers, Free Press Journal Marg, Nariman Point, Mumbai - 400021, India. Ph.: 022 35218591 @ CIN : L24100MH1980PLC023177 Email : info@indoborax.com @ Website : www.indoborax.com [Partlculars I[Denils The Open Offer shall be completed in accordance with the provisions of the SAST Regulations. Consideration ~ — whether cash | Cash consideration (by way of electronic transfer) consideration or share swap or any other form and details of the same Cost of acquisition and/or the price at | At a cost of X103.22* (Indian Rupees One Hundred which the shares are acquired and Three point Two Two only) per equity share (“Equity Share”) of the Target Company; aggregating to a consideration of %246,11,77,680.00 (Indian Rupees Two Hundred and Forty-Six Crores Eleven Lakhs Seventy-Seven Thousand Six Hundred and Eighty only) under the SPA. The Open Offer is being made at X157.27 (Indian Rupees One Hundred and Fifty-Seven point Two Seven only) per Equity Share, which has been determined in accordance with SAST Regulations. * The price of 103.22 per Equity Share is the price payable under the SPA. However, the per Equity Share price inclusive of the consultancy fees payable by the Target Company to each of the Sellers pursuant to transition support consultancy arrangements (considered in accordance with Regulation 8( [Showing first 8,000 characters — download PDF for full document]