Stylam Industries has received the formal open offer announcement from Japanese acquirer Aica Kogyo Company Limited, following their confirmed acquisition agreement. The mandatory open offer, managed by ICICI Securities Limited, seeks to acquire 44,06,496 equity shares representing 26% of the voting share capital at ₹2,250 per share.

Open Offer Structure and Financial Details

The comprehensive open offer framework establishes clear acquisition parameters and regulatory compliance:

Share Purchase Agreement Implementation

The underlying transaction involves structured acquisition through two share purchase agreements executed on December 26, 2025:

The acquisition structure ensures Aica Kogyo consolidates at least 40% shareholding through the combined share purchase agreements and open offer process.

Seller Group Details and Post-Transaction Holdings

The transaction involves comprehensive shareholding restructuring among existing promoter groups:

Governance and Board Restructuring

The strategic partnership establishes new corporate governance framework with significant management participation:

Regulatory Timeline and Compliance

The open offer follows mandatory SEBI SAST regulations with structured implementation timeline. The detailed public statement will be published within 5 working days, with the tendering period commencing thereafter. ICICI Securities Limited serves as the manager to the open offer, ensuring regulatory compliance throughout the acquisition process.

Aica Kogyo, headquartered in Nagoya, Japan, operates as a leading manufacturer of chemical and building materials including high-pressure laminates and adhesives. The company maintains existing Indian operations through AICA Laminates India Pvt. Ltd., manufacturing decorative laminates under 'Sunmica' and 'AICA' brands since 2011.

Stylam Industries Limited has achieved a significant milestone in its export journey, securing the title of Second Best Exporter of Decorative Laminates. This prestigious recognition comes with the highest accolade for exports in the decorative laminates segment for the period 2023-24 to 2024-25.

Award Details

The award, presented by the Plastics Export Promotion Council, underscores Stylam Industries' outstanding performance in the international market. Notably, this recognition is sponsored by the Ministry of Commerce Industry, Department of Commerce, Government of India, adding to its prestige and importance.

Recognition Highlights

This achievement not only highlights Stylam Industries' strong export performance but also positions the company as a key player in India's decorative laminates export sector. The recognition from a government-sponsored body further validates the company's contribution to India's export-oriented growth in the plastics and related industries.

For investors and industry observers, this award serves as a testament to Stylam Industries' competitive edge in the global market for decorative laminates. It may indicate the company's potential for sustained growth and market expansion in the coming years, particularly in international markets.

As the decorative laminates industry continues to evolve, such recognitions can play a crucial role in establishing brand credibility and opening doors to new business opportunities. Stylam Industries' success in securing this award may well translate into enhanced market presence and potentially improved business prospects in the export segment.