Kesoram Industries Limited (BSE: 502937 | NSE: KESORAMIND)

Introduction

On 12 September 2026, Kesoram Industries Limited filed a Regulation 30 (LODR) announcement with the BSE, NSE and Calcutta Stock Exchange, reporting a change of control following the acquisition of a 42.80 % equity stake by Frontier Warehousing Limited. The filing also disclosed several board‑level appointments and resignations, a change of registered office, and a re‑classification of the promoter group.

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1. Change of Control – Share Purchase Transaction

• Acquirer: Frontier Warehousing Limited (the “Acquirer”).
• Transaction: Completion of the Share Purchase Agreement dated 4 December 2025.
• Shares Acquired: 13,29,69,279 equity shares (42.80 % of the total equity share capital).
• Resulting Holding: Frontier Warehousing now holds 13,30,53,804 shares (≈ 42.81 %), up from 84,525 shares (0.01 %).
• Effect: Frontier Warehousing has acquired control of Kesoram Industries and is now the Promoter under SEBI LODR Regulations.

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2. Board Resolutions Passed at the 12 Sept 2026 Meeting

2.1 Appointment of Company Secretary & Compliance Officer

• Mrs. Nikita Rateria – appointed with effect from 12 Sept 2026.

2.2 Resignations of Existing Directors (effective end of business on 12 Sept 2026)

Director	DIN	Position	Reason
Ms. Jikyeong Kang	08045661	Non‑Executive (Non‑Independent)	Change in control (as per resignation letter)
Mrs. Mangala Radhakrishnan Prabhu	06450659	Non‑Executive Independent	Change in control
Mr. Satish Narain Jajoo	07524333	Non‑Executive Independent	Change in control

The company confirmed no material reasons beyond those stated in the resignation letters.

2.3 Appointment of New Independent Directors (subject to shareholder approval)

• Mrs. Charu Rajgharia – DIN 05329700
• Mr. Himanshu Ranjan – DIN 10950872
• Mr. Aninda Chatterjee – DIN 01760865

All appointed for a five‑year term starting 12 Sept 2026.

2.4 Appointment of Additional Non‑Executive Director

• Mr. Amit Agarwalla – DIN 00413345, appointed for five years (until 11 Sept 2031).
  • Profile: MBA (Manchester Business School), 16 years with the business.
  • Relationship: Brother of Mr. Gautam Agarwalla.

2.5 Appointment of Additional Director & Managing Director

• Mr. Gautam Aggarwalla – DIN 00413204, appointed Managing Director for five years (until 11 Sept 2031).
  • Profile: Finance, Marketing & Economics graduate (Wharton), associated with the warehousing business since 1996.
  • Relationship: Brother of Mr. Amit Agarwalla.

2.6 Change of Registered Office

• From 9/1 R.N. Mukherjee Road, Birla Building, Kolkata‑700001
• To East India House, 20B Abdul Hamid Street, 3rd Floor, Kolkata‑700069 (same city).

2.7 Re‑classification of Promoter & Promoter Group

• The promoter group is being re‑classified under SEBI Regulation 31A (LODR 2015). Details are provided in Annexure F.

2.8 Authorized Signatories for Material Disclosures (Regulation 30(5))

No.	Name	Designation	Contact
1	Mr. Samir Kumar Ray	Chief Financial Officer	Samir.ray@kesoramrayon.com
2	Mrs. Nikita Rateria	Company Secretary & Compliance Officer	nikita.rateria@kesoram.com

The board meeting commenced at 11:20 a.m. and concluded at 11:45 a.m..

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3. Summary of Implications for Investors

• Control Shift: Frontier Warehousing now holds a controlling stake, which may lead to strategic realignment of Kesoram Industries’ businesses.
• Governance Changes: A complete overhaul of the board, with three directors resigning and six new directors (including a Managing Director) appointed, reflects the new promoter’s governance framework.
• Operational Continuity: The change of registered office is administrative and does not affect operational locations.
• Regulatory Compliance: All disclosures have been made in accordance with SEBI LODR Regulations 2015 and the Substantial Acquisition of Shares and Takeovers (SAST) Regulations 2011.

Investors should monitor forthcoming shareholder approvals, any subsequent strategic announcements from Frontier Warehousing, and updates on the company’s financial performance under the new management.