Stylam Industries Limited has recently entered into a Share Purchase Agreement with Aica Kogyo Company Limited. Confirming on December 26th, Stylam promoters Pushpa Gupta, Dipti Gupta and Manav Gupta( Seller Group 1) strike a deal to sell 45,96,768 equity shares of the Company in two tranches, each having a face value of INR 5/ which represents 21.72% (of the issued paid-up and voting share capital of the Company)
As per the information, shared by the company, under Seller Group 2, Jagdish Gupta, Saru Gupta and NidhiGupta entered into a Share Purchase Agreement with Aica Kogyo to sell equity shares of the Company up to 21,82,456, having a face value of INR 5 in two tranches, which amounts to 12.88% of the issued, paid-up and voting share capital of the Company.
The price of the transactions has been set at Rs 2,250 per share. This makes the total value of the transaction stand at Rs 1,525 crore for 6,779 croreshares (40 percent stake).
It has also been informed that the board of directors of the Company, at its meeting held on December 26th, approved the proposal to enter into shareholders’ agreement to record the terms and conditions governing the management of the Company and the inter se rights and obligations between the existing Promoter Group and the Acquirer. The Company, members of the promoter and promoter group of the Company, along with the Acquirer have executed a shareholders’ agreement on December 26, 2025 (“SHA”), which shall be effective in accordance with its terms.
The execution of the SPA 1, SPA 2 and the SHA, Acquirer will be required to make an open offer in accordance with SEBI Regulations, 2011, as amended.
AICA Kogyo is Japan's leading manufacturer of chemical and building material products including high-pressure laminates, adhesives, coatings, and construction materials. The company has manufacturing bases across Asia and North America. Its India presence dates back to 2011 through AICA Laminates India Pvt. Ltd., which manufactures and markets decorative laminates under the ‘Sunmica’ and ‘AICA’ brands.