Frontier Warehousing acquires Kesoram Industries, Birlas exit; shares jump 20%

• Birlas exit Kesoram Industries as Frontier Warehousing acquires a controlling stake.
• Frontier Warehousing made an open offer for 26% of Kesoram shares at Rs 5.48 each and acquired 42.8% from promoters at Rs 4 per share.
• The exit follows Kesoram's demerger and divestment of its cement business to UltraTech Cement earlier this year.
• Kesoram Industries now focuses on its non-cement portfolio, including rayon, transparent paper, and chemicals, through its subsidiary Cygnet Industries.
• Kesoram reported a consolidated net loss of Rs 25.87 crore in the September quarter of FY25.

Why It Matters: Birla family's exit from Kesoram Industries signals a new ownership era.