Kesoram Industries Limited has submitted to the Exchange a copy of Recommendation of the committee of Independent Directors ("IDC") on the open offer to the public shareholders of the company under Regulation 26(7) of SEBI (SAST) Regulations, 2011 and subsequent amendments thereto ( SEBI (SAST)Regulations, 2011.
KESORAMIND · price
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Kesoram Industries Limited has filed the recommendation of its Independent Directors Committee (IDC) on the open offer made by Frontier Warehousing Limited to the public shareholders. The open offer is for acquisition of up to 8,07,72,600 equity shares (26% of voting share capital) at ₹5.48 per share, under SEBI (SAST) Regulations 2011. The negotiated acquisition price for the acquirer was ₹4.00 per share, and the offer price matches the 60-day volume-weighted average market price on NSE. The IDC has unanimously recommended the offer price as fair and reasonable, while also noting that the current market price is higher than the offer price. The recommendations were published in Business Standard (English and Hindi), Navshakti (Marathi), and Ei Samay (Bengali) on February 20, 2026.
Public shareholders of Kesoram now have a formal IDC recommendation to consider. Since the current market price is already above the offer price of ₹5.48, investors may find limited incentive to tender shares in the open offer unless they prefer to exit. The filing confirms a change-of-control transaction is progressing for this listed company.