Indo Borax & Chemicals has been the subject of a regulatory disclosure filed on May 14, 2026, under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011. Catalyst Trusteeship Limited, acting as Debenture Trustee on behalf of debenture holders, has reported the creation of a pledge over certain equity shares of the company, with the transaction date recorded as May 12, 2026.

Pledge Created to Secure Debenture Issuance

The pledge was created in favour of Catalyst Trusteeship Limited to secure the issuance of 39,000 senior, secured, unlisted, unrated, redeemable and non-convertible debentures having a face value of INR 1,00,000 (Indian Rupees One Lakh) each, aggregating up to INR 390,00,00,000 (Indian Rupees Three Hundred and Ninety Crore). These debentures were issued by Zenrock Chemicals Private Limited in favour of Catalyst Trusteeship Limited in its capacity as Debenture Trustee for the benefit of debenture holders. The mode of acquisition is described as creation of pledge over equity shares of the target company.

Key Transaction Details

The following table summarises the key parameters of this disclosure:

Shareholding and Encumbrance Position

The disclosure provides a detailed breakdown of the encumbered shareholding position before and after the pledge creation. The equity share capital of Indo Borax Chemicals Limited stands at Rs. 3,20,90,000, comprising 3,20,90,000 equity shares having a face value of Rs. 1 each, both before and after the transaction.

Regulatory Compliance

The disclosure was submitted to both BSE Limited and the National Stock Exchange of India Limited in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The filing was signed by Deesha Srikkanth, Senior Vice President at Catalyst Trusteeship Limited, on May 14, 2026, from Mumbai. Catalyst Trusteeship Limited is not part of the promoter or promoter group of Indo Borax Chemicals Limited.

Indo Borax & Chemicals Limited has successfully concluded its postal ballot remote e-voting process, with all four resolutions receiving shareholder approval. The e-voting period commenced on Thursday, April 09, 2026, at 9:00 a.m. (IST) and concluded on Friday, May 08, 2026, at 5:00 p.m. (IST). The results were submitted to the stock exchanges on May 11, 2026, pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting Participation Overview

The record date for the postal ballot was April 03, 2026, on which a total of 20751 shareholders were registered. The company dispatched the postal ballot notice electronically on Wednesday, April 08, 2026, and published an advertisement in The Free Press Journal (English) and Navshakti (Marathi) on Thursday, April 09, 2026. The overall voting participation across all resolutions is summarised below.

Resolutions Considered and Results

Four resolutions were put to shareholders through the postal ballot process. Three were special resolutions and one was an ordinary resolution. All were declared passed with requisite majority. The scrutinizer's report confirmed that for all three special resolutions, votes cast in favour exceeded three times the votes cast against, while the ordinary resolution received a simple majority in favour.

Resolution 1 — ESOP 2026 Introduction (Special Resolution)

Shareholders considered and approved the introduction and implementation of the "Indo Borax & Chemicals Limited Employees Stock Option Plan – ESOP 2026."

Result: Passed — 36 members voted in favour (16976502 valid votes, 99.3084%), while 2 members voted against (118221 valid votes, 0.6916%).

Resolution 2 — ESOP 2026 Grant Exceeding 1% of Issued Capital (Special Resolution)

Shareholders approved the grant of Employee Stock Options equal to or exceeding 1% of the issued capital of the company to identified employees under the ESOP 2026 plan.

Result: Passed — 36 members voted in favour (16976502 valid votes, 99.3084%), while 2 members voted against (118221 valid votes, 0.6916%).

Resolution 3 — Investments and Loans Beyond Section 186 Limits (Special Resolution)

Shareholders approved the company's ability to make investments, give loans, guarantees, and security in excess of the limits specified under Section 186 of the Companies Act, 2013.

Result: Passed — 35 members voted in favour (16976302 valid votes, 99.3073%), while 3 members voted against (118421 valid votes, 0.6927%).

Resolution 4 — Commission to Non-Executive Directors (Ordinary Resolution)

Shareholders approved the payment of remuneration by way of commission to directors other than the Managing Director and Whole-Time Director.

Result: Passed — 36 members voted in favour (17094473 valid votes, 99.9985%), while 2 members voted against (250 valid votes, 0.0015%).

Scrutinizer's Details

The postal ballot process was scrutinized by CS Sandhya R. Malhotra, Partner at M/s. Manish Ghia & Associates, Company Secretaries, appointed by the Board of Directors on April 06, 2026. The scrutinizer's report was issued to the company on May 11, 2026.

The scrutinizer confirmed that for Resolution Nos. 1, 2, and 3 (Special Resolutions), votes cast in favour exceeded three times the votes cast against. For Resolution No. 4 (Ordinary Resolution), votes cast in favour exceeded those cast against. All resolutions contained in the Postal Ballot Notice dated April 06, 2026 were accordingly declared passed with requisite majority. The results and scrutinizer's report have been uploaded on the company's website at www.indoborax.com and on the e-voting agency's platform. The filing was signed by Pravin Chavan, Company Secretary & Compliance Officer, Membership No. A16857.