ICICI Securities Limited has Submitted to the Exchange a copy of pre-offer advertisement in accordance with Regulation 18(7) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended, and corrigendum to the detailed public statement for the attention of the public shareholders of the Stylam Industries Limited (Target Company).
STYLAMIND · price
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Stylam Industries Limited has published a Pre-Offer Advertisement and Corrigendum to its Detailed Public Statement in connection with a mandatory Open Offer triggered under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The Acquirer, Aica Kogyo Company, Limited (Japan), is offering to buy 44,06,496 equity shares representing 26% of the voting share capital from public shareholders at an Offer Price of ₹2,250 per share. The Acquirer already holds 45,96,868 shares (about 26%+) following consummation of Share Purchase Agreements and has acquired joint control, becoming a promoter of the company. The Tendering Period runs from Wednesday, 22 April 2026 to Wednesday, 6 May 2026, with the Identified Date set as 7 April 2026. The Independent Directors Committee of Stylam has reviewed the offer and recommended the price of ₹2,250 as fair and reasonable, noting it is higher than the 60-day volume-weighted average market price of ₹2,022.05 on NSE.
Public shareholders now have a clear window to tender their shares at ₹2,250 per share, which is above both the recent VWAP and current market levels (₹2,243.30 on NSE, ₹2,241.65 on BSE as of 16 April 2026). The offer signals a change in control to a Japanese acquirer, which may bring strategic shifts but also represents an exit opportunity for public investors at a premium to trading levels.