Frontier Warehousing launches open offer for Kesoram Industries stake

Frontier Warehousing Limited has made a mandatory open offer to acquire up to 807,726,000 equity shares of Kesoram Industries Limited, representing 26.00% of the voting share capital. The offer price is ₹5.48 per equity share, totaling a maximum consideration of ₹4,426,338,480.00, payable in cash. This offer was triggered by the acquisition of substantial voting rights and a change in control of Kesoram Industries.

The open offer follows an agreement dated December 4, 2025, where Frontier Warehousing committed to acquire 1,329,692,790 equity shares from certain promoters/promoter group sellers at ₹4.00 per share, representing 42.80% of the voting share capital, for a consideration of ₹5,319,000,000.00. Upon completion, Frontier Warehousing Limited will become the promoter of Kesoram Industries.

The public announcement was made on December 4, 2025, and a detailed public statement was published on December 11, 2025, as required by SEBI (SAST) Regulations, 2011.