Kesoram Industries under new ownership, shares surge 20%

• Kesoram Industries Ltd. has been acquired by Frontier Warehousing Ltd., ending the Birla family's ownership.
• Frontier Warehousing acquired 42.8% of Kesoram's voting share capital from the Birla group for ₹53 crore and made an open offer for an additional 26% stake.
• The ownership change follows Kesoram's earlier transfer of its cement business to UltraTech Cement, allowing Kesoram to focus on non-cement operations.
• Kesoram Industries' shares rose by 19.85% to ₹6.52 on Friday following the news of the acquisition.

Why It Matters: Kesoram Industries Ltd. ownership change signals new direction and stock surge.