Announced Wed, 17 Jun · 15:55 IST
Stylam board approves 9 director appointments, special rights for Aica Kogyo
Board & Shareholder Meetings View source PDF
STYLAMIND · price
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Price reaction · full curve 14 horizons · vs prior close
+0.9%1-day move
₹3316.50
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₹3320.10
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AI summary
Stylam board on June 17, 2026 appointed 9 new directors - 8 nominees of Japanese partner Aica Kogyo plus one independent director. Aica gets special rights to nominate up to 8 directors, hold board quorum, and name committee members under amended Articles of Association. Pay hikes approved for MD Jagdish Gupta and WTD Manit Gupta. Changes flow from a December 2025 shareholders agreement between Stylam, Aica Kogyo, and the promoter Gupta family.
Likely market impact
Aica Kogyo gains major board influence through 8 nominee directors and quorum rights, reducing minority shareholder say. Promoter pay hikes also approved.