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Frontier Warehousing's acquisition of Kesoram Industries stake marks Birla family's exit and reshapes the company.
Summary
Kesoram Industries saw a 20% surge after Frontier Warehousing acquired a 42.8% stake, leading to the Birla family's complete exit. This development is significant as it reshapes the company's ownership and strategic focus, following the demerger of its cement business.
Key Points
- Frontier Warehousing acquired a 42.8% controlling stake in Kesoram Industries.
- The acquisition resulted in the Birla family's full exit from Kesoram Industries.
- Kesoram Industries' cement business was previously demerged into UltraTech.
- Kesoram Industries is now focused on non-cement operations.
Full Article
Kesoram Industries surged 20% after Frontier Warehousing acquired a 42.8% controlling stake through a block deal, marking the Birla family’s full exit from the company. The stake purchase follows the earlier demerger of Kesoram’s cement business into UltraTech, leaving the firm focused on its non-cement operations.
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