- Frontier Warehousing Limited acquired a 42.80 % controlling stake in Kesoram Industries Limited (BSE: 502937 | NSE: KESORAMIND) by purchasing 13,29,69,279 shares, raising its holding to 13,30,53,804 shares (≈ 42.81 %) from 84,525 shares (0.01 %).
- The board was overhauled: three existing directors resigned and six new directors were appointed, including Mr. Gautam Aggarwalla as Managing Director and Mrs. Charu Rajgharia, Mr. Himanshu Ranjan, Mr. Aninda Chatterjee, Mr. Amit Agarwalla, and Mrs. Nikita Rateria (also appointed Company Secretary & Compliance Officer).
- The registered office moved within Kolkata from 9/1 R.N. Mukherjee Road, Birla Building to East India House, 20B Abdul Hamid Street, 3rd Floor—an administrative change with no operational impact.
- The promoter group was re‑classified under SEBI Regulation 31A (LODR 2015), and all disclosures comply with SEBI LODR Regulations 2015 and SAST Regulations 2011.
- Investors should watch for shareholder approval of the new directors and any strategic shifts announced by Frontier Warehousing under its new control.
The formal completion of the 42. 80% stake acquisition by Frontier Warehousing marks the official closure of the transaction and complete exit of the Birla group. While the acquisition price of ₹4/share (and open offer price of ₹5.
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