Mumbai, Dec. 5 -- The offer was triggered after Frontier Warehousing entered into a share purchase agreement with Kesoram's promoter-group entities to acquire 13,29,69,279 equity shares at Rs 4 per share. This block represents 42.8% of Kesoram's voting share capital.

Earlier this year, UltraTech Cement announced a 1:52 share swap ratio for its acquisition of Kesoram Industries, issuing one UltraTech share for every 52 held by Kesoram shareholders. The scheme took effect on 1 March 2025, formalising the transfer of Kesoram's cement business to UltraTech under a composite arrangement dated 1 April 2024.

Post demerger, Kesoram ceased standalone manufacturing operations and now focuses on its remaining businesses, including rayon, transpare...