Key Transaction Completion

Frontier Warehousing Limited completed acquisition of 13,29,69,279 equity shares representing 42.80% of Kesoram Industries' equity share capital on September 12, 2026, pursuant to Share Purchase Agreement dated December 4, 2025. This acquisition increased Frontier Warehousing's aggregate shareholding from 84,525 shares (0.01%) to 13,30,53,804 shares (42.81%), resulting in Frontier Warehousing acquiring control and becoming the new Promoter of the Company.

Board Meeting Details

The Board of Directors meeting was held on September 12, 2026, commencing at 11:20 a.m. and concluding at 11:45 a.m.

Board Composition Changes

Resignations (effective close of business hours September 12, 2026):

  • Ms. Jikyeong Kang (DIN: 08045661) - Non-Executive Director
  • Mrs. Mangala Radhakrishnan Prabhu (DIN: 06450659) - Non-Executive Independent Director
  • Mr. Satish Narain Jajoo (DIN: 07524333) - Non-Executive Independent Director

Reasons for resignation cited as change in control of the Company. No material reasons other than those stated in resignation letters.

Appointments (effective September 12, 2026):

  • Mrs. Nikita Rateria as Company Secretary and Compliance Officer (Qualified Company Secretary, Membership No. A36115, experience in corporate governance, compliance, secretarial law, and regulatory matters)
  • Three Non-Executive Independent Directors (subject to members' approval):
  • Mrs. Charu Rajgharia (DIN: 05329700) - Project designer and senior partner with experience in corporate domains
  • Mr. Himanshu Ranjan (DIN: 10950872) - 37 years experience at Indian Oil Corporation in energy management, marine fuels and institutional business
  • Mr. Aninda Chatterjee (DIN: 01760865) - Business leader with 37 years experience in finance, restructuring, digital platforms and governance
  • Mr. Amit Agarwalla (DIN: 00413345) as Additional Non-Executive Director (MBA from Manchester Business School, 16 years business experience, brother of Gautam Agarwalla)
  • Mr. Gautam Agarwalla (DIN: 00413204) as Additional Director & Managing Director for five years (Graduate in Economics, Finance, and Marketing from Wharton Business School, associated with warehousing business since 1996, brother of Amit Agarwalla)

Registered Office Change

The Registered office is being shifted from 9/1 R.N. Mukherjee Road, Birla Building, Kolkata-700001 to East India House, 20B Abdul Hamid Street, 3rd Floor, Kolkata-700069 within the same city.

Promoter Reclassification

Thirteen entities of the Birla Group (Manav Investment & Trading Company Limited, Pilani Investment and Industries Corporation Limited, Aditya Birla Real Estate Limited, Birla Education Trust, Birla Educational Institution, Birla Institute of Technology and Science, Prakash Educational Society, Padmavati Investment Private Limited, Birla Group Holdings Private Limited, Manjushree Khaitan, Kumar Mangalam Birla, Rajashree Birla, and Vasavadatta Bajaj) requested reclassification from 'Promoter/Promoter Group' to 'Public' category under Regulation 31A(10) of LODR Regulations.

Shareholding Change:

  • Pre-acquisition holding: 13,46,50,683 shares (43.34%)
  • Post-acquisition holding: 16,81,404 shares (0.54%)
  • Shares transferred to Frontier Warehousing: 13,29,69,279 shares (42.80%)

The Promoter Group confirmed they no longer exercise control, hold less than 10% voting rights, have no special rights or board representation, and are not wilful defaulters or fugitive economic offenders.

Authorization for Disclosures

  • Mr. Samir Kumar Ray, Chief Financial Officer (samir.ray@kesoramrayon.com)
  • Mrs. Nikita Rateria, Company Secretary & Compliance Officer (nikita.rateria@kesoram.com)