Aica Kogyo Company Limited is making a mandatory open offer to acquire up to 26% (44,06,496 shares) of Stylam Industries Limited at ₹2,250 per share, triggered by share purchase agreements with existing promoters.
The offer has a total consideration of ₹991.46 crore assuming full acceptance, with financial arrangements fully escrowed through ICICI Bank and managed by ICICI Securities.
The transaction involves complex phased acquisitions from seller groups and includes a shareholders' agreement granting Aica Kogyo joint control and board representation rights.
The tendering period is scheduled from April 22, 2026 to May 6, 2026, with settlement to be completed through stock exchange mechanisms.