Newspaper Advertisement Recommendations of the Committee of Independent Directors ( IDC ) on Open Offer.
STYLAMIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Stylam Industries has published newspaper advertisements on April 20, 2026, sharing the Independent Directors Committee's (IDC) recommendations on the open offer made by Japan's Aica Kogyo Company, Limited. The open offer is to acquire 4,44,496 equity shares, representing 26% of the voting share capital, at an offer price of Rs 2,250 per share, aggregating to about Rs 99.15 crores on full acceptance. After reviewing the offer documents, the IDC unanimously concluded that the offer is fair and reasonable, noting the price equals the highest negotiated acquisition price and is higher than the 60-day volume-weighted average market price of Rs 2,243.30 on NSE and Rs 2,261.65 on BSE. The ads appeared in Financial Express, Jansatta, Navshakti, and Desh Sewak, with ICICI Securities acting as the manager to the offer.
Shareholders now have a clear, independent assessment of the open offer's fairness to help them decide whether to tender shares. With the offer price above prevailing market levels and a positive IDC recommendation, retail investors holding Stylam shares have an attractive exit window at Rs 2,250 per share.