Indo borax & chemicals Ltd has fulfilled its quarterly regulatory obligations by submitting the mandatory certificate under SEBI (Depositories and Participants) Regulations, 2018 for Q4FY26. The submission demonstrates the company's commitment to maintaining compliance with securities market regulations.

Regulatory Compliance Details

The certificate submission covers the quarter ended 31st March, 2026, as required under Regulation 74(5) of SEBI regulations. Company Secretary and Compliance Officer Pravin Chavan signed the submission letter on 8th April, 2026, ensuring timely compliance with regulatory deadlines.

Registrar Confirmation

MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, serves as the company's registrar and transfer agent. The registrar issued the compliance certificate confirming proper handling of dematerialisation processes during the quarter.

Sr. Vice President-Corporate Registry Ashok Shetty signed the certificate on behalf of MUFG Intime India Private Limited. The certificate confirms that securities received from depository participants for dematerialisation were properly processed and that all regulatory timelines were met.

Stock Exchange Notifications

The company submitted the certificate to both major Indian stock exchanges where its shares are listed:

Certificate Confirmation

The registrar's certificate confirms several key compliance aspects:

• Securities received for dematerialisation were confirmed to depositories within prescribed timelines
• Security certificates were properly mutilated and cancelled after verification
• Depository names were substituted in the register of members as registered owners
• All processes followed SEBI regulatory requirements

This quarterly submission represents standard regulatory compliance for listed companies, ensuring transparency in securities handling and dematerialisation processes. The company maintains its registered office at 302, 3rd Floor Link Rose Building, Linking Road, Santacruz (West), Mumbai.

Indo borax & chemicals Limited has received the recommendation from its Independent Directors Committee (IDC) regarding the open offer made by Zenrock Chemicals Private Limited and its persons acting in concert. The committee has deemed the offer price of ₹256.30 per equity share as fair and reasonable under applicable SEBI regulations.

Open Offer Details

The open offer targets the acquisition of up to 83,43,400 fully paid-up equity shares of face value ₹1.00 each, representing 26.00% of the voting share capital from public shareholders. The acquiring entities include Zenrock Chemicals Private Limited as the primary acquirer, along with persons acting in concert: India Special Assets Fund III, ISAF III Onshore Fund, and Special Situation India Fund.

Independent Directors Committee Recommendation

The IDC meeting was held on April 6, 2026, with all three members present: Prasad Parameswaranpillai Naga (Chairperson), Prajnaparamita Sarkar, and Rakesh Kumar Shrivastava. The committee unanimously approved the recommendation after reviewing relevant documentation including the public announcement, detailed public statement, draft letter of offer, and letter of offer.

Committee Independence and Disclosures

All IDC members are non-executive and independent directors of the company. The committee confirmed that none of its members hold any equity shares or other securities in either the target company or the acquiring entities. Additionally, no IDC member has traded in the company's securities during the 12 months prior to the public announcement or from the announcement date until the recommendation date.

Regulatory Framework and Timeline

The recommendation follows the requirements under Regulation 26(7) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The committee's assessment was based on comprehensive documentation issued by IIFL Capital Services Limited, formerly known as IIFL Securities Limited, acting as the manager to the open offer.

The IDC advised public shareholders to independently evaluate the open offer and the company's market performance before making their tendering decisions. Shareholders have the option to either tender their shares or remain as public shareholders in the company. The recommendation statement has been made available on the company's website at www.indoborax.com for public access.