Mark Corporate Advisors Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulations 3(1) and 4 read with Regulations 13(1), 14 and (15(1) of ....
KESORAMIND · price
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Frontier Warehousing Limited has triggered a mandatory Open Offer to acquire up to 8,07,72,600 equity shares (26% of voting share capital) of Kesoram Industries Ltd from public shareholders at ₹5.48 per share, aggregating to a total consideration of about ₹44.26 crores. This offer follows a Share Purchase Agreement (SPA) signed on December 04, 2025, under which Frontier will acquire 13,29,69,279 shares (42.80% stake) from nine promoter and promoter group sellers — including Manav Investment, Pilani Investment and Industries Corporation, and Aditya Birla Real Estate — at ₹4.00 per share for ₹53.19 crores. Upon completion, the existing promoters will exit completely and be reclassified as public shareholders, while Frontier Warehousing (controlled by the Agarwalla family) will become the new promoter of Kesoram. The acquirer has confirmed it has adequate financial resources and does not intend to delist the company.
This signals a change of control at Kesoram Industries from the Birla group promoter entities to the Agarwalla-family-controlled Frontier Warehousing. The takeover at a low offer price of ₹5.48 may attract speculative interest, but existing public shareholders should review whether to tender given the price is well below historical levels and the acquirer has no delisting plans.