AICA Kogyo Acquires 40% Stylam Industries Stake for ₹1,525 Crore

Japan's AICA Kogyo will acquire a 40% stake in Stylam Industries from its promoters for ₹1,525 crore, triggering a mandatory open offer for an additional 26% stake. Stylam Industries shares saw a significant drop following the announcement. This strategic move aims to expand AICA Kogyo's presence in the Indian market.

• AICA Kogyo acquires 40% promoter stake in Stylam Industries.
• Deal valued at ₹1,525 crore, with shares priced at ₹2,250 each.
• Mandatory open offer for an additional 26% stake at ₹2,250 per share.
• Stylam Industries shares declined by 2-8% on the announcement day.
• AICA Kogyo will gain significant board control in Stylam Industries.
• Acquisition aims to bolster AICA Kogyo's presence in the Indian market.

Read the full story on Quick Digest.