Mark Corporate Advisors Private Ltd has submitted to the Exchange a copy of Post offer advertisement under Regulation 18(12) of SEBI (SAST) Regulation, 2011, and amendments thereto (SEBI (SAST) Regulations 2011) for the attention of the public shareholders of the company.
KESORAMIND · price
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Frontier Warehousing Limited completed its open offer for Kesoram Industries shareholders, which ran from February 26 to March 12, 2026, at ₹5.48 per share. Despite offering to buy up to 8.07 crore shares (26% of voting capital) worth around ₹44.26 crore, only 84,525 shares were actually tendered — just 0.03% of the target. The acquirer already held 42.80% via a Share Purchase Agreement and ends with 42.83% post-offer, far below the proposed 68.80% target. Total payout was just ₹4.63 lakh. Public shareholding actually rose slightly from 56.66% to 57.17% as a result.
The extremely weak tender response signals that public shareholders found the ₹5.48 offer price unattractive, likely expecting a better valuation. For shareholders, the offer is closed with minimal change in ownership; the acquirer's control position has not strengthened meaningfully beyond the SPA, and the stock may continue trading based on market dynamics rather than takeover expectations.