Frontier Warehousing to Acquire 26.00% Stake in Kesoram Industries for $44.26 Million

Frontier Warehousing Limited (Frontier) has triggered an open offer to acquire up to 8,07,72,600 equity shares of Kesoram Industries Limited (Kesoram) representing 26.00% of the voting share capital. The offer is made at a price of 25.48 per share, aggregating to a total consideration of $44.26 million. The offer is being made pursuant to and in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011. This open offer is a triggered offer, following Frontier's acquisition of substantial voting rights and change in control of Kesoram.