Aica Kogyo Stylam Open Offer Results Published

ICICI Securities publishes post-offer advertisement for Aica Kogyo's open offer for Stylam Industries shares.
Offer closed with only 4.66 lakh shares tendered versus 44.06 lakh shares offered at ₹2,250 per share.
Acquirer's post-offer shareholding reached 29.87% instead of projected 53.12% due to low tender response.
Open offer was part of broader acquisition strategy including share purchase agreements to acquire up to 40% stake.