Mark Corporate Advisors Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the eligible Equity Shareholders of Kesoram Industries Ltd ("Target Company").
KESORAMIND · price
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Mark Corporate Advisors has submitted the Draft Letter of Offer to BSE for a mandatory Open Offer by Frontier Warehousing Limited to acquire up to 8,07,72,600 equity shares (26% of voting capital) of Kesoram Industries at ₹5.48 per share, aggregating to about ₹44.26 crore. The offer is triggered by a Share Purchase Agreement dated December 4, 2025, under which Frontier Warehousing will buy 13,29,69,279 shares (42.80% stake) from the existing Birla Group promoters and promoter group entities at ₹4.00 per share, for a total deal value of about ₹53.19 crore. This results in a complete change of control, with the existing Birla Group promoters exiting the company and Frontier Warehousing becoming the new promoter. The tendering period will run from January 28, 2026 to February 10, 2026.
For shareholders, this represents a change of control event where the existing Birla Group promoters are fully exiting Kesoram Industries. Public shareholders can tender their shares at the open offer price of ₹5.48, which is higher than the ₹4.00 price paid to the promoters, providing an exit opportunity. The stock may see increased activity around the offer window (Jan 28 – Feb 10, 2026), though long-term direction will depend on the new acquirer's plans for the business.