Open Offer triggered for Kesoram Industries by Frontier Warehousing

Listed-company acquisitionOpen offer triggeredStrategic Transactions View source PDF Explain this filing

KESORAMIND · price

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Price reactionminutes from the announcement price · days from the prior close

+20.0%Reaction day

₹5.45

prior close

₹6.54

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.1%+21.1% vs market

On the reaction day the stock moved 21.1 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

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Reaction day

+20.0-1.1+21.1

Next day

+43.9-3.5+47.3

+45.9-1.6+47.4

+46.8-2.2+49.0

+42.2-1.8+44.0

+50.3-1.5+51.8

+65.3-1.6+66.9

15d

+143.7-2.0+145.7

+108.4+0.7+107.7

+60.6-3.8+64.3

+63.1-9.8+72.9

UpDownMarket · Nifty Microcap 250Pending

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AI summary

Frontier Warehousing Ltd has triggered a mandatory open offer for Kesoram Industries after signing a Share Purchase Agreement with Birla group promoter entities to acquire 42.80 percent stake (about 13.29 crore shares) at Rs 4 per share, totalling Rs 53.19 crores. The open offer is for an additional 26 percent (8.07 crore shares) at Rs 5.48 per share, with total consideration of about Rs 44.26 crores in cash. Kesoram promoters will exit and Frontier Warehousing, controlled by the Agarwalla family, will become the new promoter. The acquirer has no plans to delist.

Likely market impact

Change of control from Birla group to Agarwalla family. Shareholders can tender shares at Rs 5.48 in the open offer.