Frontier Warehousing launches open offer for Kesoram Industries shares

Frontier Warehousing Limited (the "Acquirer") has initiated an Open Offer to acquire up to 80,772,600 equity shares of Kesoram Industries Limited (the "Target Company") at a price of ₹5.48 per share. This offer represents 26.00% of Kesoram's Voting Share Capital, totaling a consideration of ₹44,26,33,848.00 payable in cash. The offer was triggered by Frontier's agreement to acquire 13,29,69,279 equity shares from the promoter group.

The underlying transaction, detailed in a Share Purchase Agreement dated December 4, 2025, involved Frontier acquiring a 42.80% stake in Kesoram at ₹4.00 per equity share. Upon consummation of this transaction, Frontier Warehousing Limited will become the promoter of Kesoram Industries Limited and take control of the company. The Public Announcement, managed by Mark Corporate Advisors Private Limited, confirms that the Acquirer has adequate financial resources for the offer and does not intend to delist the Target Company.