Stylam Industries Limited has informed the Exchange regarding Board meeting held on February 13, 2026.
STYLAMIND · price
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Stylam Industries' board accepted the resignations of three directors — Sachin Bhatla (Whole Time Director), Tirloki Nath Singla (Non-Executive Director), and Vinod Kumar (Independent Director) — effective February 13, 2026. These exits are linked to a change in control following a Share Purchase Agreement dated December 26, 2025 between the company, its promoters, and Aica Kogyo Company, Limited (Japan). Two new directors were appointed: Nobuyoshi Sakai (Aica Kogyo nominee, Non-Executive Director) and Santosh Kumar Agrawal (Independent Director), both for 5-year terms. Jagdish Gupta stepped down as Chairman but continues as Managing Director, with Independent Director Sunil Kumar Sood taking over as Chairman. Manit Gupta was named the new 'Occupier' under the Factories Act. The board also approved special acquirer rights for Aica Kogyo and reconstituted all six key committees (Audit, NRC, Stakeholders Relationship, Risk Management, CSR, and ESG).
This is a significant change-of-control event with a foreign strategic acquirer (Aica Kogyo) gaining board representation and special rights, which could bring operational synergies but also integration and open-offer implications. Shareholders should expect shifts in strategic direction and monitor for any mandatory open offer triggered by the change in control.