A copy of the draft letter of offer ('DLoF'), with respect to the open offer made by Aica Kogyo Company, Limited to the public shareholders of the Company.
STYLAMIND · price
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Stylam Industries has submitted the draft letter of offer for an open offer by Japan's Aica Kogyo Company, Limited to acquire up to 44,06,496 equity shares (26% of voting share capital) from public shareholders at ₹2,250 per share. The offer is triggered under SEBI Takeover Regulations following Share Purchase Agreements with existing promoter family groups: Seller Group 1 (Pushpa Gupta, Dipti Gupta, Manav Gupta – 27.12%) and Seller Group 2 (Saru Gupta, Nidhi Gupta, Jagdish Gupta – 12.88%). The total open offer size is approximately ₹991.46 crore (escrow amount). ICICI Securities is the manager to the offer. The tendering period is expected to run from February 18, 2026 to March 5, 2026. Aica Kogyo, a Japanese listed company, is set to become the new promoter of Stylam Industries.
This signals a change of control at Stylam Industries, with a Japanese acquirer (Aica Kogyo) set to take over the promoter seat. Shareholders can tender shares at ₹2,250 during the offer window, but should note that acceptance will be proportionate if oversubscribed. The stock may see price movement closer to the ₹2,250 benchmark as the tendering date approaches.